Gladstone Investment: Fiscal 3Q Earnings Snapshot
MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Tuesday reported fiscal third-quarter net income of $16.5 million.
The McLean, Virginia-based company said it had net income of 50 cents per share. Earnings, adjusted for investment gains, were 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The business development company posted revenue of $15 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $14.2 million.
Gladstone Investment shares have increased 18 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11, an increase of 19 percent in the last 12 months.