Newtek Business Services Corp. (NEWT) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Earnings Press Release
10-Q Quarterly Report
10-Q QoQ Changes
Newtek Business Services Corp.
Ticker: NEWT CIK: 1587987



	Exhibit 99.1

Newtek Business Services Corp. Reports Second Quarter 2017 Financial Results

Increases 2017 SBA Loan Origination Guidance

to Approximately $415 Million

Lake Success, N.Y. - August 2, 2017 - Newtek Business Services Corp. (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), announced today its financial results for the three and six months ended June 30, 2017.

Second Quarter 2017 Financial Highlights


•	Net asset value (“NAV”) of $250.2 million, or $14.36 per share, at June 30, 2017; an increase of 22.4% and 19.7%, respectively, over NAV at June 30, 2016, and December 31, 2016.


•	Net investment loss of $(1.7) million, or $(0.10) per share, for the three months ended June 30, 2017, compared to a net investment loss of $(4.1) million, or $(0.28) per share, for the three months ended June 30, 2016.


•	Adjusted Net Investment Income (“ANII”)¹of $7.2 million, or $0.41 per share, for the three months ended June 30, 2017; an increase of 44.9% over ANII of $4.9 million, or $0.34 per share, for the three months ended June 30, 2016.


•	Total investment income of $9.9 million for the three months ended June 30, 2017; an increase of 37.1% over total investment income of $7.2 million for the three months ended June 30, 2016.


•	Debt-to-equity ratio of 81.4% at June 30, 2017.


•	Total investment portfolio increased by 13.6% to $392.3 million at June 30, 2017, from $345.2 million at December 31, 2016.

Financial Highlights - Six Months Ended June 30, 2017


•	Net investment loss of $(3.8) million, or $(0.22) per share for the six months ended June 30, 2017, compared to a net investment loss of $(5.5) million, or $(0.38) per share, for the six months ended June 30, 2016.


•	ANIIof $13.7 million, or $0.81 per share, for the six months ended June 30, 2017; an increase of 38.6% over ANII of $9.8 million, or $0.68 per share, for the six months ended June 30, 2016.


•	Total investment income of $18.9 million for the six months ended June 30, 2017; an increase of 34.8% over total investment income of $14.0 million for the six months ended June 30, 2016.

Additional Second Quarter 2017 Highlights


•	The Company closed its investment in a new wholly owned controlled portfolio company, IPM, an information technology consulting company.


•	Certain of Newtek’s wholly owned controlled portfolio companies increased the aggregate principal amount of the term loan facility with Goldman Sachs Bank USA to $50.0 million from $38.0 million and received a reduction in the interest rate of between 1.0% and 2.0%.


•	Newtek Small Business Finance, LLC (“NSBF”) increased its existing revolving credit facility through Capital One, National Association, by $50.0 million to $100.0 million and received a reduction in the interest rate of

The following information was filed by Newtek Business Services Corp. (NEWT) on Thursday, August 3, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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