SWK Holdings Corp (OTCMKTS:SWKH) 1Q2015 revenue surged by 58% to nearly $5.8 million in 1Q2015 compared to $3.7 million in the same period a year earlier. The revenue in 1Q2014 was led by $2.1 million of revenue in interest and fees from marketable securities and finance receivables and $1.5 million in income from investment in an unconsolidated deal. The increase in company’s portfolio from nine investments in 1Q2014 against 14 investments in 1Q2015 was the main driver for the considerable increase in revenues.
SWK reported that net income surged 55% to $2.3 million in 1Q2015 compared to $1.5 million for the first quarter of 2014. The non-GAAP adjusted net income jumped 77% to $3.5 million compared to $2.0 million in 1Q2014. The book value jumped to $1.42 per share.
The management speaks
Brett Pope, the Chief Executive Officer of SWK, said that the first quarter performance of 2015 highlights the continued growth in company’s portfolio. At the same time, the company also seeks to allocate funds to situations where it can record high risk-adjusted returns. The product pipeline remains strong as the management persists to work to increase value for shareholders.
The company reported that it funded additional amount of $10 million since end of 1Q2015. The funding is arranged through two transactions. It has now completed 16 transactions under the planned strategy, deploying nearly $134.6 million across numerous opportunities.
The transactions
SWK Holdings Corp (OTCMKTS:SWKH) recorded four transactions of $16.3 million where it purchased or financed royalties resulting from sales of life science products. The other eleven transactions were recorded for $110.7 million where it received interest and other income in the form of secured debt. A transaction of $6 million was reported when company bought an indirect interest in the United States marketing authorization rights.
In last trading session, the stock price of SWKH gained more than 2% to close the trading session at $1.63.
