PennantPark: Fiscal 4Q Earnings Snapshot
NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Thursday reported fiscal fourth-quarter earnings of $8.3 million.
The New York-based company said it had profit of 13 cents per share. Earnings, adjusted for investment costs, came to 15 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The business development company posted revenue of $27.9 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $28.5 million.
For the year, the company reported profit of $15.9 million, or 24 cents per share. Revenue was reported as $112.1 million.
PennantPark shares have dropped roughly 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.94, a fall of 19% in the last 12 months.