PennantPark: Fiscal 4Q Earnings Snapshot
NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Thursday reported fiscal fourth-quarter earnings of $12.5 million.
The New York-based company said it had profit of 18 cents per share. Earnings, adjusted for investment costs, were 20 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The business development company posted revenue of $27.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $26.6 million.
For the year, the company reported profit of $47.7 million, or 68 cents per share. Revenue was reported as $108.3 million.
PennantPark shares have climbed slightly more than 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7, a fall of slightly more than 5 percent in the last 12 months.