Kohlberg Capital Corp. (KCAP, Financial) filed Amended Quarterly Report for the period ended 2009-06-30.
Kohlberg Capital Corp. has a market cap of $102.4 million; its shares were traded at around $4.69 with a P/E ratio of 2.9 and P/S ratio of 2.1. The dividend yield of Kohlberg Capital Corp. stocks is 14.5%.
Total expenses for the three months ended June 30, 2009 and 2008 were approximately $3 million and $5 million, respectively. Interest expense and amortization on debt issuance costs for the period, which includes facility and program fees on the unused loan balance, was approximately $2 million in both periods on average debt outstanding of $237 million and $235 million, respectively. Approximately $824,000 and $2 million, respectively, of expenses were attributable to employment compensation, including salaries, bonuses and stock option expense for the three months ended June 30, 2009 and 2008. For the three months ended June 30, 2009, other expenses included approximately $658,000 for professional fees, insurance, administrative and other. For the three months ended June 30, 2008, expenses included approximately $677,000 for professional fees, insurance, administrative and other. For the three months ended June 30, 2009 and 2008, administrative and other costs totaled approximately $268,000 and $306,000, respectively, and include occupancy expense, insurance, technology and other office expenses.
Total expenses for the six months ended June 30, 2009 and 2008 were approximately $6 million and $10 million, respectively. Interest expense and amortization on debt issuance costs for the period, which includes facility and program fees on the unused loan balance, was approximately $3 million and $6 million on average debt outstanding of $246 million and $245 million, respectively. Approximately $2 million and $3 million, respectively, of expenses were attributable to employment compensation, including salaries, bonuses and stock option expense for the six months ended June 30, 2009 and 2008. For the six months ended June 30, 2009, other expenses included approximately $1 million for professional fees, insurance, administrative and other. For the six months ended June 30, 2008, expenses included approximately $2 million for professional fees, insurance, administrative and other. For the six months ended June 30, 2009 and 2008, administrative and other costs totaled approximately $530,000 and $651,000, respectively, and include occupancy expense, insurance, technology and other office expenses.
During the three months ended June 30, 2009 and 2008, our total investments had a change in net unrealized depreciation of approximately $10 million and $1 million, respectively. For the three months ended June 30, 2009, affiliate asset managers had unrealized depreciation of approximately $699,000 and our middle market portfolio of debt securities, equity securities and CLO Fund securities had unrealized depreciation of approximately $10 million. For the three months ended June 30, 2008, affiliate asset managers had unrealized appreciation of $483,000 offset by unrealized depreciation of approximately $2 million on debt securities, equity securities and CLO Fund securities in our investment portfolio.
During the six months ended June 30, 2009 and 2008, our total investments had a change in net unrealized appreciation of approximately $15 million and depreciation of approximately $10 million, respectively. For the six months ended June 30, 2009, affiliate asset managers had unrealized appreciation of approximately $2 million and our middle market portfolio had unrealized appreciation of approximately $13 million. For the six months ended June 30, 2008, affiliate asset managers had unrealized appreciation of approximately $3 million, offset by unrealized depreciation of $13 million in our middle market portfolio.
The net decrease in stockholders equity resulting from operations for the three and six months ended June 30, 2009 was approximately $13 million and $22 million, respectively, or $0.59 and $1.00, respectively, per share. The net increase in stockholders equity resulting from operations for both the three and six months ended June 30, 2008 was approximately $6 million, or $0.31 and $0.30, respectively, per share.
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Kohlberg Capital Corp. has a market cap of $102.4 million; its shares were traded at around $4.69 with a P/E ratio of 2.9 and P/S ratio of 2.1. The dividend yield of Kohlberg Capital Corp. stocks is 14.5%.
Highlight of Business Operations:
As of June 30, 2009, our investment in Katonah Debt Advisors was approximately $57 million. For the three months ended June 30, 2009 and 2008, Katonah Debt Advisors had pre-tax net income of approximately $714,000 and $870,000, respectively. For the six months ended June 30, 2009 and 2008, Katonah Debt Advisors had pre-tax net income of approximately $1 million and $2 million, respectively. For the three and six months ended June 30, 2009, Katonah Debt Advisors made no distributions of net income. For the six months ended June 30, 2008, Katonah Debt Advisors distributed $350,000 of net income. Katonah Debt Advisors made no distributions of net income for the three months ended June 30, 2008.Total expenses for the three months ended June 30, 2009 and 2008 were approximately $3 million and $5 million, respectively. Interest expense and amortization on debt issuance costs for the period, which includes facility and program fees on the unused loan balance, was approximately $2 million in both periods on average debt outstanding of $237 million and $235 million, respectively. Approximately $824,000 and $2 million, respectively, of expenses were attributable to employment compensation, including salaries, bonuses and stock option expense for the three months ended June 30, 2009 and 2008. For the three months ended June 30, 2009, other expenses included approximately $658,000 for professional fees, insurance, administrative and other. For the three months ended June 30, 2008, expenses included approximately $677,000 for professional fees, insurance, administrative and other. For the three months ended June 30, 2009 and 2008, administrative and other costs totaled approximately $268,000 and $306,000, respectively, and include occupancy expense, insurance, technology and other office expenses.
Total expenses for the six months ended June 30, 2009 and 2008 were approximately $6 million and $10 million, respectively. Interest expense and amortization on debt issuance costs for the period, which includes facility and program fees on the unused loan balance, was approximately $3 million and $6 million on average debt outstanding of $246 million and $245 million, respectively. Approximately $2 million and $3 million, respectively, of expenses were attributable to employment compensation, including salaries, bonuses and stock option expense for the six months ended June 30, 2009 and 2008. For the six months ended June 30, 2009, other expenses included approximately $1 million for professional fees, insurance, administrative and other. For the six months ended June 30, 2008, expenses included approximately $2 million for professional fees, insurance, administrative and other. For the six months ended June 30, 2009 and 2008, administrative and other costs totaled approximately $530,000 and $651,000, respectively, and include occupancy expense, insurance, technology and other office expenses.
During the three months ended June 30, 2009 and 2008, our total investments had a change in net unrealized depreciation of approximately $10 million and $1 million, respectively. For the three months ended June 30, 2009, affiliate asset managers had unrealized depreciation of approximately $699,000 and our middle market portfolio of debt securities, equity securities and CLO Fund securities had unrealized depreciation of approximately $10 million. For the three months ended June 30, 2008, affiliate asset managers had unrealized appreciation of $483,000 offset by unrealized depreciation of approximately $2 million on debt securities, equity securities and CLO Fund securities in our investment portfolio.
During the six months ended June 30, 2009 and 2008, our total investments had a change in net unrealized appreciation of approximately $15 million and depreciation of approximately $10 million, respectively. For the six months ended June 30, 2009, affiliate asset managers had unrealized appreciation of approximately $2 million and our middle market portfolio had unrealized appreciation of approximately $13 million. For the six months ended June 30, 2008, affiliate asset managers had unrealized appreciation of approximately $3 million, offset by unrealized depreciation of $13 million in our middle market portfolio.
The net decrease in stockholders equity resulting from operations for the three and six months ended June 30, 2009 was approximately $13 million and $22 million, respectively, or $0.59 and $1.00, respectively, per share. The net increase in stockholders equity resulting from operations for both the three and six months ended June 30, 2008 was approximately $6 million, or $0.31 and $0.30, respectively, per share.
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