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American Capital, Ltd (ACAS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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American Capital, Ltd

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CIK: 817473 Ticker: ACAS

Exhibit 99.1
Two Bethesda Metro Center
14th Floor
Bethesda, MD 20814
(301) 951-6122
(301) 654-6714 Fax
 
FOR IMMEDIATE RELEASE
February 17, 2016

CONTACT:
Investors - (301) 951-5917
Media - (301) 968-9400
    
AMERICAN CAPITAL REPORTS 2015 NOI BEFORE INCOME TAXES OF $1.41 PER DILUTED SHARE, NET LOSS OF $(0.70) PER DILUTED SHARE AND NAV PER SHARE OF $19.88

Bethesda, MD - February 17, 2016 – American Capital, Ltd. (“American Capital” or the “Company”) (NASDAQ: ACAS) announced consolidated net operating income (“NOI”) before income taxes for the year and quarter ended December 31, 2015 of $378 million, or $1.41 per diluted share, and $95 million, or $0.37 per diluted share, respectively. Consolidated NOI for the year and quarter ended December 31, 2015 was $253 million, or $0.95 per diluted share, and $61 million, or $0.24 per diluted share, respectively. Consolidated net loss for the year and quarter ended December 31, 2015 was $(187) million, or $(0.70) per diluted share, and $(227) million, or $(0.88) per diluted share, respectively. As of December 31, 2015, consolidated net asset value (“NAV”) per share was $19.88, a $0.56 per share decrease from the September 30, 2015 NAV per share of $20.44 and a $0.62 per share decrease from the December 31, 2014 NAV per share of $20.50.

2015 CONSOLIDATED FINANCIAL SUMMARY

•
$19.88 NAV per share outstanding
ü
$0.62 per share decline from 2014
ü
(3)% economic return from 2014
•
$1.41 NOI before income taxes per diluted share, or $378 million
ü
117%, or $0.76 per diluted share, increase over 2014, or $195 million
ü
7.1%, return on equity
•
$0.95 NOI after income taxes per diluted share, or $253 million
ü
126%, or $0.53 per diluted share, increase over 2014, or $136 million
•
$(0.70) net loss per diluted share, or $(187) million
ü
$2.25 per diluted share decline from 2014, or $(621) million
ü
$(122) million in tax provision related to discrete and non-recurring items
•
$3.7 billion of cash proceeds from realizations
ü
$2.3 billion from Senior Floating Rate Loans (“SFRLs”)
ü
$283 million from sale of CLO equity investments to American Capital CLO Fund I, LP
ü
$170 million from investments sold to a European Capital debt fund
•
$3.3 billion in new committed investments
ü
$1.1 billion in SFRLs
ü
$805 million in Sponsor Finance investments
•
36.9 million shares of American Capital common stock repurchased for $526 million
ü
13.8% of shares outstanding as of December 31, 2014
ü
$14.25 average price per share
ü
$0.75 per share accretive to December 31, 2015 NAV per share





The following information was filed by American Capital, Ltd (ACAS) on Wednesday, February 17, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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