SWK Holdings Corp (OTCMKTS:SWKH), a leading finance company with the prime focus on life science, has announced financial results for the three-month period ending March 31, 2015. As per the reports, hike in revenues was 58% YOY, which led to total revenues of $5.8 million at the end of the first quarter.
Financial Insights In First Quarter:
Revenues of SWK Holdings in 1Q2014 were $3.7 million, but due to improved market conditions and excellent sales figures, the revenues rose at an exponential rate over the next 12 months. When it comes to net income, it experienced total net income of $0.02 per share or $2.3 million for 1Q2015. It was 55% more than previous year’s $0.04 per share or $1.5 million.
The highest growth was seen in NON GAAP Adjusted net income that increased at 77% growth rate to touch $3.5 million mark. SWK generated $2 million NON GAAP Adjusted net income in the previous year. As a result of excellent growth, the book value of SWK hiked to $1.42 per share.
The company has deployed a total of $134.6 over the past few months to access various opportunities in different fields. The break of this deployment of the fund is: $16.3 million in 4 transactions where it financed royalties that were generated by life science product sales. It also deployed $110.7 million in eleven transactions, $6 million in an indirect interest related transaction and $1.7 million in preferred stock related transaction.
Management Call:
Senior management of the company was delighted to announce these results and hoped that the company would report better numbers in the next quarter. According to Brett Pope, CEO, SWK Holdings Corp (OTCMKTS:SWKH), excellent financial results in 1Q2015 reflected the continuous growth path that the company had taken over the past few months. The prime focus of the company has always been in allocating its capital in such a way that it can generate maximum risk-adjusted returns.
SWK looks forward to taking various steps that can help it enhancing market performance and add value to its shareholders in a long run.
