SWK Holdings Corporation Announces 2017 Fourth Quarter and Full-Year Financial Results
- Total revenues of $37.5 million for the fiscal year 2017 compared to $22.4 million for the fiscal year 2016.
- For the fiscal year 2017, net income attributable to SWK Stockholders of $3.0 million, or $0.23 per share, and non-GAAP adjusted net income attributable to SWK Stockholders of $19.9 million, or $1.53 per share.
- Total income producing assets (defined as finance receivables, marketable investments and investment in unconsolidated entity less non-controlling interests) were $153.9 million as of December 31, 2017, a 16.4% increase from December 31, 2016.
- Book value of $15.93 per share as of December 31, 2017. For the fiscal year 2017, book value per share increased 11.7% after adjusting for the reduction in SWK’s deferred tax asset due to the decrease in the U.S. corporate tax rate.
- For the fiscal year 2017, earned a 10.4% adjusted return on tangible book value, excluding the deferred tax asset and GAAP provision for income tax.
- $30.6 million of cash and cash equivalents available for deployment as of December 31, 2017.
- For the full year 2017, closed three new financings deploying $25.8 million at a weighted average 16.0% GAAP projected effective yield and deployed an additional $16.7 million to existing portfolio partners.
- After the close of the fourth quarter, deployed $10.0 million into a new synthetic royalty financing, $15.0 million into a new term loan, and deployed an additional $3.3 million into two existing portfolio partners.
Dallas, TX, March 29, 2018 – SWK Holdings Corporation (SWKH.OB) (“SWK” or the “Company”), a life science focused specialty finance company, announced its fourth quarter and full year 2017 financial results.