I'm LongbridgeAI, I can summarize articles.Oxford Lane Capital (NASDAQ: OXLC) shares fell 2.42% to $9.68 after reporting Q4 results that missed expectations. Adjusted EPS was $1.03, below the $2.65 estimate, and revenue was $94 million, missing the $127 million forecast. The net asset value per share dropped to $10.56 from $15.51. The company also reported a net decrease in net assets of approximately $365.3 million.
Oxford Lane Capital Corp. (NASDAQ:OXLC) shares are trading lower Tuesday after the company reported worse-than-expected fourth-quarter financial results.
- Oxford Lane stock is facing resistance. Why are OXLC shares declining?
Q4 Highlights
Oxford Lane reported adjusted earnings per share of $1.03, missing the consensus estimate of $2.65. In addition, it reported revenue of $94.00 million, missing the consensus estimate of $127.00 million.
Net asset value per share was $10.56 as of March 31, down from $15.51 as of Dec. 31.
The company estimated April net asset value per share in the range of $11.12 to $11.42.
Net investment income totaled approximately $54.5 million, or 56 cents per share, during the quarter, while core net investment income was approximately $100.7 million, or $1.03 per share.
Oxford Lane reported a net decrease in net assets resulting from operations of approximately $365.3 million, or $3.74 per share, comprised of net realized losses of approximately $38.4 million and net unrealized depreciation of approximately $381.4 million.
Total investment income decreased to approximately $94.0 million from approximately $117.8 million in the prior quarter.
The weighted average effective yield of the company's CLO equity investments at current cost declined to 11.7% from 13.8% in the prior quarter.
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Oxford Lane Shares Fall
OXLC Price Action: At the time of publication, Oxford Lane shares are trading 2.42% lower at $9.68, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.