Gladstone Investment: Fiscal 2Q Earnings Snapshot
MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Monday reported fiscal second-quarter profit of $30.4 million.
On a per-share basis, the McLean, Virginia-based company said it had profit of 93 cents. Earnings, adjusted for non-recurring gains, came to 10 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The business development company posted revenue of $13.1 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $15.4 million.
Gladstone Investment shares have fallen almost 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $10.61, an increase of almost 1 percent in the last 12 months.