Life sciences company SWK Holdings Corporation (Nasdaq:SWKH) disclosed on Monday that it achieved GAAP net income of USD8.8m (USD0.68 per diluted share) for the fourth quarter ended 31 December 2019.
This marks a rise in earnings when compared with GAAP net income USD4.6m (USD0.35 per diluted share) for the fourth quarter 2018.
Total revenues of USD9.4m were generated in the fourth quarter 2019, a growth over total revenues of USD6.5m for the fourth quarter 2018, primarily due to increase in interest and fees earned on new and existing finance receivables and contribution from Enteris.
The company added that its core specialty finance segment generated a 12.6% adjusted ROIC and yielding assets rose 4.8% year over year to USD175.1m. It completed the Enteris Biopharma acquisition, uplisted its common stock to Nasdaq Capital Market and its board approved a USD2m stock repurchase plan, as well as electedCEO Winston Black as board chairman.
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