Garrison Capital: 3Q Earnings Snapshot
NEW YORK (AP) _ Garrison Capital Inc. (GARS) on Tuesday reported third-quarter profit of $1.5 million.
On a per-share basis, the New York-based company said it had net income of 9 cents. Earnings, adjusted for investment costs, came to 23 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The business development company posted revenue of $9.3 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $9.8 million.
Garrison Capital shares have dropped slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.07, a drop of roughly 2 percent in the last 12 months.