Waterside Capital Announces Earnings Release
The Company's net decrease in stockholders' equity resulting from operations (which includes net operating income plus realized and unrealized gains or losses on investments) was
For the nine months ended
About Waterside Capital Corporation
Waterside Capital Corporation is a Small Business Investment Company (SBIC) headquartered in
Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are "forward-looking statements" including Waterside's optimism regarding the growth of its portfolio companies (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve a number of risks and uncertainties. It is possible that the assumptions made by management--including, but not limited to, investment opportunities, results, performance or expectations--may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. In addition to the above factors, other important factors including the risks associated with the performance of the Company's portfolio companies, dependencies on key employees, delays, interest rates, the level of economic activity, and competition, as well as other risks described from time to time in the Company's filings with the Securities Exchange Commission, press releases, and other communications.
WATERSIDE CAPITAL CORPORATION Financial Summary (In thousands except per share data) Nine Months Ended March 31, 2009 2008 ---- ---- Statement of Operations data: Total operating income $1,506 $1,617 Interest expense 786 1,017 Other operating expenses 885 845 --- --- Net operating loss (165) (245) Realized gain / (loss) on investments (557) 146 Change in unrealized appreciation (depreciation) on investments 357 102 --- --- Net increase (decrease) in stockholders' equity resulting from operations $(365) $3 ===== == Per share data (basic): Net operating loss $(0.09) $(0.13) Net increase (decrease) in stockholders' equity resulting from operations (0.19) 0.00 At March At March 31, 31, Selected Balance Sheet data: 2009 2008 ---- ---- Cash and Cash Equivalents $3,126 $2,506 Loans and investments, at fair value Debt securities 4,587 6,504 Equity securities 11,341 10,339 Options and warrants 1,967 2,333 Notes receivable and other 1,274 3,094 ----- ----- Total loans and investments 19,169 22,270 Debentures payable 16,100 16,100 Stockholders' equity 6,981 9,492 Net asset value per common share $3.64 $4.96
SOURCE Waterside Capital Corporation