Safeguard Scientifics Announces Second Quarter 2016 Financial Results

Realized cash proceeds of $58.2 million, or 3.9x cash-on-cash return and 42% IRR, on sale of Putney

RADNOR, Pa., July 28, 2016 /PRNewswire/ — Safeguard Scientifics, Inc. (NYSE: SFE) today announced financial results for the three- and six-months ended June 30, 2016, as well as continued achievement of developmental milestones by Safeguard’s 27 current partner companies.

For the quarter ended June 30, 2016, Safeguard’s net income was $39.0 million, or $1.92 per share, compared with a net loss of$19.0 million, or $0.91 per share, for the same quarter of 2015.  For the six months ended June 30, 2016, Safeguard’s net income was $23.5 million, or $1.15 per share, compared with a net loss of $33.6 million, or $1.61 per share, for the same period of 2015.

“As we enter the second half of 2016, we remain sharply focused on our core, value-creating strategies to deploy capital and provide operational support services to early- and growth-stage companies in targeted vertical markets, and to realize aggregate cash-on-cash returns of at least 2x on the $301.2 million deployed in our 27 current partner companies,” said Stephen T. Zarrilli, President and CEO at Safeguard. “We are not deterred by the ongoing political and economic uncertainties that have roiled global capital markets year-to-date. Instead, we believe that the year’s turbulence may generate opportunities for Safeguard as we work to expand our roster of partner companies, improve the pace of exit transactions, and evaluate potential new segments of the technology markets to deploy growth capital.”

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