Oxford Lane Capital (NASDAQ:OXLC) fiscal Q3 net investment income slipped from the prior quarter, while total investment income increased. Net asset value per share fell 6%.
Fiscal Q3 core net investment income of $50.1M, or $0.31 per share, vs. $51.1M, or $0.33 per share, in the previous quarter.
Total investment income for the quarter ended Dec. 31, 2022 rose to $67.6M from $64.7M in the previous quarter.
Oxford Lane Capital (OXLC) stock gained 0.3% in Friday premarket trading.
Total expenses were $26.2M vs. $28.7M in the September quarter.
Net asset value of $4.63 per share declined from $4.93 at Sept. 30.
For the quarter, Oxford Lane Capital (OXLC) posted a net decrease in net assets resulting from operations of $14.8M, or $0.09 per share, comprised of NII of $41.4M, net realized losses of $1.5M, and net unrealized depreciation of $54.7M.
During the quarter, the company made additional investments of $82.2M and received $49.5M from sales and repayments of CLO investments.
As of Dec. 31, the weighted average yield of its CLO debt investments at current cost was 16.6% vs. 15.1% as of Sept. 30; its weighted average effective yield of CLO equity investments at current cost was 15.7%, down from 16.1% at Sept. 30; and its weighted average cash distribution yield of CLO equity investments at current cost was 18.6%, down from 22.1% at Sept. 30.
Earlier, Oxford Lane Capital (OXLC) non-GAAP EPS of $0.31, total investment income of $67.6MM.