Hercules Technology Growth Capital Inc. (HTGC, Financial) filed Quarterly Report for the period ended 2010-06-30.
Hercules Technology Growth Capital Inc. has a market cap of $374.44 million; its shares were traded at around $10.33 with a P/E ratio of 10.43 and P/S ratio of 5.04. The dividend yield of Hercules Technology Growth Capital Inc. stocks is 7.74%. Hercules Technology Growth Capital Inc. had an annual average earning growth of 35% over the past 5 years.
The fair value of the loan portfolio at June 30, 2010 was approximately $374.0 million, compared to a fair value of approximately $411.7 million at June 30, 2009. The fair value of the equity portfolio at June 30, 2010 and 2009 was approximately $37.6 million and $25.4 million, respectively. The fair value of our warrant portfolio at June 30, 2010 and 2009 was approximately $20.0 million and $15.3 million, respectively.
We receive payments in our loan portfolio based on scheduled amortization of the outstanding balances. In addition, we receive repayments of some of our loans prior to their scheduled maturity date. The frequency or volume of these repayments may fluctuate significantly from period to period. During the six-month period ended June 30, 2010, we received normal principal amortization repayments of $48.2 million, and early repayments and working line of credit pay-downs totaling $109.3 million. Total portfolio Investment Company Activity (exclusive of unearned income) as of the six-month periods ended June 30, 2010 and 2009 is as follows:
At June 30, 2010, we had investments in two portfolio companies deemed to be Control Investments. Approximately $831,000 and $158,000 in investment income was derived from our debt investments in these two Software and Internet Consumer and Business Services portfolio companies during the three month period, and approximately $1.7 million and $315,000 during the six-month period. Approximately $2.5 million of realized losses related to Control Investments were recognized during the three and six-month periods ended June 30, 2010. We recognized net unrealized depreciation of approximately $6.9 million on control investments during the three and six-month periods ended June 30, 2010. During the six-month period ended June 30, 2009, no portfolio companies were deemed to be Control Investments.
At June 30, 2010 we had an investment in one portfolio company deemed to be an Affiliate. Income derived from this investment was zero, as this is a non-income producing equity investment. At June 30, 2009, we had investments in two portfolio companies deemed to be affiliates. Income derived from these investments was less than $500,000 since these investments became affiliates. We recognized a realized loss of approximately $4.0 million during the three and six-month periods ended June 30, 2009 in a portfolio company that was an affiliate prior to the disposal of the investment.
Read the The complete Report
Hercules Technology Growth Capital Inc. has a market cap of $374.44 million; its shares were traded at around $10.33 with a P/E ratio of 10.43 and P/S ratio of 5.04. The dividend yield of Hercules Technology Growth Capital Inc. stocks is 7.74%. Hercules Technology Growth Capital Inc. had an annual average earning growth of 35% over the past 5 years.
Highlight of Business Operations:
The total value of our investment portfolio was $431.5 million at June 30, 2010 as compared to $370.4 million at December 31, 2009. During the three and six-month periods ended June 30, 2010 we made debt commitments totaling $215.7 million and $309.2 million and funded approximately $143.0 million and $230.3 million, respectively. Debt commitments for the six-month period ended June 30, 2010 included commitments of approximately $211.1 million to fourteen new portfolio companies and $98.1 million to fourteen existing companies. During the three and six-month periods ended June 30, 2010 we made and funded equity commitments of $1.7 million and $2.84 million to five and six companies, respectively. These commitments further diversify our portfolio by stage and industry sector. During the three and six-month periods ended June 30, 2009, we made debt commitments totaling $73.8 million and $134.8 million and funded approximately $19.6 million and $68.2 million, respectively. During the three and six-month periods ended June 30, 2009, we made an equity investment of approximately $400,000 in one existing portfolio company. At June 30, 2010, we had unfunded contractual commitments of $99.2 million to nineteen portfolio companies. Since these commitments may expire without being drawn, unfunded commitments do not necessarily represent future cash requirements. In addition, we had approximately $143.2 million of non-binding term sheets outstanding to eight new companies at June 30, 2010. Non-binding outstanding term sheets are subject to completion of our due diligence and final approval process, as well as the negotiation of definitive documentation with the prospective portfolio companies. Not all non-binding term sheets are expected to close and do not necessarily represent future cash requirements.The fair value of the loan portfolio at June 30, 2010 was approximately $374.0 million, compared to a fair value of approximately $411.7 million at June 30, 2009. The fair value of the equity portfolio at June 30, 2010 and 2009 was approximately $37.6 million and $25.4 million, respectively. The fair value of our warrant portfolio at June 30, 2010 and 2009 was approximately $20.0 million and $15.3 million, respectively.
We receive payments in our loan portfolio based on scheduled amortization of the outstanding balances. In addition, we receive repayments of some of our loans prior to their scheduled maturity date. The frequency or volume of these repayments may fluctuate significantly from period to period. During the six-month period ended June 30, 2010, we received normal principal amortization repayments of $48.2 million, and early repayments and working line of credit pay-downs totaling $109.3 million. Total portfolio Investment Company Activity (exclusive of unearned income) as of the six-month periods ended June 30, 2010 and 2009 is as follows:
At June 30, 2010, we had investments in two portfolio companies deemed to be Control Investments. Approximately $831,000 and $158,000 in investment income was derived from our debt investments in these two Software and Internet Consumer and Business Services portfolio companies during the three month period, and approximately $1.7 million and $315,000 during the six-month period. Approximately $2.5 million of realized losses related to Control Investments were recognized during the three and six-month periods ended June 30, 2010. We recognized net unrealized depreciation of approximately $6.9 million on control investments during the three and six-month periods ended June 30, 2010. During the six-month period ended June 30, 2009, no portfolio companies were deemed to be Control Investments.
At June 30, 2010 we had an investment in one portfolio company deemed to be an Affiliate. Income derived from this investment was zero, as this is a non-income producing equity investment. At June 30, 2009, we had investments in two portfolio companies deemed to be affiliates. Income derived from these investments was less than $500,000 since these investments became affiliates. We recognized a realized loss of approximately $4.0 million during the three and six-month periods ended June 30, 2009 in a portfolio company that was an affiliate prior to the disposal of the investment.
Read the The complete Report