Gladstone Investment: Fiscal 1Q Earnings Snapshot
MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Wednesday reported fiscal first-quarter net income of $6 million.
The McLean, Virginia-based company said it had profit of 18 cents per share. Earnings, adjusted for investment costs, were 25 cents per share.
The results exceeded 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 $17.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $13.7 million.
Gladstone Investment shares have climbed 22% since the beginning of the year. The stock has increased slightly in the last 12 months.