NewtekOne Inc Pref Shs(129275526) Vorzugsaktie

We're breaking down Annaly Capital Management for new readers to demonstrate how to analyze the stock. » Mehr auf seekingalpha.com

BOCA RATON, Fla., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek CEO, Barry Sloane, has been invited to speak on the BDC panel at the Active Investment Company Alliance (“AICA”) Virtual Summer Summit on Thursday, August 13, 2020 at 3:00 PM ET. In addition to Newtek, the BDC panel will include chief executive officers from other internally managed BDCs including Main Street Capital, Hercules Capital, Inc., and Capital Southwest. Mr. Sloane will also host two virtual question-and-answer sessions that same day at 12:00 PM ET and 4:00PM ET. If you would like to attend the AICA Virtual Summer Summit, please contact Jayne Cavuoto, Director of Investor Relations at Newtek, at 212-273-8179 or [email protected] and she will arrange for your participation as Newtek’s guest.About Newtek Business Services Corp. Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business (“SMB”) market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.Newtek’s and its portfolio companies’ products and services include: Business Lending, SBA Lending Solutions, Electronic Payment Processing,  Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing,  Insurance Solutions, Web Services, and Payroll and Benefits Solutions. Newtek® and Your Business Solutions Company®, are registered trademarks of Newtek Business Services Corp.Note Regarding Forward Looking StatementsThis press release contains certain forward-looking statements. Words such as “believes,” “intends,” “expects,” “projects,” “anticipates,” “forecasts,” “goal” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov/.  Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.     SOURCE: Newtek Business Services Corp.Investor Relations & Public Relations Contact: Jayne Cavuoto Telephone: (212) 273-8179 / [email protected] » Mehr auf finance.yahoo.com

Company Achieves Record Performance Across Several Key MetricsBOCA RATON, Fla., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (“Newtek” or the “Company”) (Nasdaq: NEWT), an internally managed business development company (“BDC”), announced today its financial and operating results for the three and six months ended June 30, 2020.   Second Quarter 2020 Financial Highlights * Total investment income of $46.7 million for the three months ended June 30, 2020; an increase of 230% over total investment income of $14.1 million for the three months ended June 30, 2019. * Net investment income increased to $29.7 million, or $1.42 per share, for the three months ended June 30, 2020 compared to a net investment income (loss) of $(1.1) million, or $(0.06) per share, for the three months ended June 30, 2019. * Adjusted net investment income (“ANII”)1 of $28.5 million, or $1.37 per share, for the three months ended June 30, 2020; an increase of 140.4% compared to ANII of $11.0 million, or $0.57 per share, for the three months ended June 30, 2019. * Net asset value (“NAV”) of $327.4 million, or $15.66 per share, at June 30, 2020; an increase of 4.4% over NAV of $15.00 per share at March 31, 2020, and an increase of 2.2% over NAV of $15.33 per share at June 30, 2019. * Debt-to-equity ratio of 1.20x at June 30, 2020 compared to debt-to-equity ratio of 1.44x at March 31, 2020. * Total investment portfolio increased by 13.1% to $648.4 million at June 30, 2020, from $573.5 million at June 30, 2019.Financial Highlights - Six Months Ended June 30, 2020 * Total investment income of $62.5 million for the six months ended June 30, 2020; an increase of 123.9% over total investment income of $27.9 million for the six months ended June 30, 2019. * Net investment income increased to $29.5 million, or $1.42 per share, for the six months ended June 30, 2020 compared to a net investment income (loss) of $(2.1) million, or $(0.11) per share, for the six months ended June 30, 2019. * ANII of $32.8 million, or $1.58 per share, for the six months ended June 30, 2020; an increase of 56.4% on a per share basis over ANII of $19.3 million, or $1.01 per share, for the six months ended June 30, 2019.2020 Dividend Payments & Declarations * The Company paid a second quarter 2020 cash dividend of $0.56 per share on July 31, 2020 to shareholders of record as of July 15, 2020, which represents a 21.7% increase over the second quarter 2019 cash dividend. * The Company declared a third quarter 2020 cash dividend of $0.582 per share, which is payable on September 30, 2020 to shareholders of record as of September 21, 2020.  * With the payment of the third quarter 2020 dividend, the Company will have paid a total of $1.58 per share for the first three quarters of 2020, which would represent a 9.7% increase over the dividends paid in the first three quarters of 2019 of $1.44 per share.Second Quarter 2020 Lending Highlights * Newtek Small Business Finance, LLC (“NSBF”) funded $1.11 billion of U.S. Small Business Administration (“SBA”) Paycheck Protection Program (PPP) loans during the three months ended June 30, 2020. * NSBF’s PPP lending activity contributed to record NII and ANII for the three months ended June 30, 2020. * NSBF estimates that upwards of 130,000 PPP borrowers’ employees were retained with the funding of   the $1.11 billion in PPP loans. * NSBF funded $17.4 million of SBA 7(a) loans during the three months ended June 30, 2020. * NSBF forecasts funding $150.0 million in SBA 7(a) loans in the second half of 2020. * NSBF renewed its existing $150.0 million line of credit with Capital One Bank N.A. for a period of three years.Barry Sloane, Chairman, President and Chief Executive Officer said, “We are extremely pleased to report record financial results across several key metrics for the three- and six-months ended June 30, 2020 given the difficulties in the economy due to the global pandemic. As an organization that has existed for over 22 years, with 20 years as a publicly traded company, we have weathered several difficult economic environments and have always persevered despite challenging circumstances, most recently demonstrated by our record performance for the first half of 2020.  The Company recently declared a third quarter 2020 cash dividend of $0.58 per share, payable on September 30, 2020 to shareholders of record as of September 21, 2020. With the payment of the third quarter 2020 dividend, the Company will have paid a total of $1.58 per share for the first three quarters of 2020, which would represent a 9.7% increase over the dividends paid in the first three quarters of 2019 of $1.44 per share.”Mr. Sloane continued, “Due to the depth and breadth of experience of our lending team and the technological efficiencies in our lending platform, we were able to quickly reposition and adapt our business model to successfully participate in the Paycheck Protection Program (“PPP”) and were able to offer all of our existing SBA 7(a) borrowers and new clients the opportunity to apply for a PPP loan to assist them in keeping their business and employees intact. As of the close of business on August 4, 2020, NSBF funded $1.15 billion of PPP loans in slightly over four months’ time, which is equivalent to approximately 2 years’ worth of NSBF’s SBA 7(a) production under normal operating circumstances. The PPP is legislatively scheduled to conclude on August 8, 2020, but we are hopeful there will be a third round of PPP funding, which we believe could provide the Company with the opportunity to generate additional income from the continued origination of PPP loans.  We anticipate by August 8, 2020 we will have obtained approximately 10,200 new borrowers that obtained either loan approvals, or closed or funded loans through NSBF by borrowing money through the first two rounds of the already-legislated PPP. Additionally, we are hopeful that Congress will authorize the SBA to extend the current six-month term of providing payments of principal and interest on behalf of SBA 7(a) borrowers in regular (accrual) servicing status, for an additional three to six months  As of June 30, 2020, our SBA 7(a) loan portfolio in accrual status was 99.0% current with payments.  We are hopeful that bipartisan support for small businesses will continue to provide benefits in both of these areas.”Mr. Sloane further stated, “We are pleased that NSBF renewed its existing $150.0 million line of credit with Capital One Bank N.A. for a period of three years.  As previously announced, NSBF restarted its SBA 7(a) loan program and began accepting applications on June 29, 2020.  Throughout the remainder of the year, we will continue to participate in the SBA 7(a) loan program in a cautious and measured manner, selectively financing businesses based on the health of their financial statements, forward projections, focusing on companies with a 2- to 3-year operating history, hard collateral assets, pre-Covid-19 cash flows, liquidity to maintain their business and in geographical locations that were least affected by the current pandemic and economic slowdown.  We are currently forecasting $150 million of SBA 7(a) loan fundings for the second half of 2020.”Mr. Sloane concluded, “Our participation in the PPP has enabled us to introduce Newtek’s and its portfolio companies’ lending ecosystem, technology offerings, and financial and business solutions across financing, payment processing, payroll, insurance, and IT solutions to several new alliance partners and clients. Additionally, our portfolio companies’ payment processing business has been recovering sequentially month over month, and its June and July processing volumes are recovering from steep declines in April and May. We believe this is a result of increased consumer spending as local and state economies continue to reopen across the U.S. While it is very challenging to forecast economic opportunities in the immediate future, and it may be difficult to match last year’s financial performance, we are cautiously optimistic about the second half of 2020, as well as the lending environment in 2021, with the potential for additional economic stimulus from the government and this pandemic hopefully in our rearview mirror.”Investor Conference Call and WebcastA conference call to discuss second quarter 2020 results will be hosted by Barry Sloane, President, Chairman and Chief Executive Officer, and Chris Towers, Chief Accounting Officer, tomorrow, Thursday, August 6, 2020 at 8:30 a.m. ET. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611.In addition, a live audio webcast of the call with the corresponding presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s website at http://investor.newtekbusinessservices.com/events-and-presentations. A replay of the webcast with the corresponding presentation will be available on Newtek’s website shortly following the live presentation and will remain available for 90 days following the live presentation.1Use of Non-GAAP Financial Measures - Newtek Business Services Corp. and SubsidiariesIn evaluating its business, Newtek considers and uses ANII as a measure of its operating performance.  ANII includes short-term capital gains from the sale of the guaranteed portions of SBA 7(a) loans and conventional loans, and capital gain distributions from controlled portfolio companies, which are reoccurring events. » Mehr auf finance.yahoo.com