Copyright 2019 Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area.
MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Tuesday reported fiscal first-quarter earnings of $39,000.
The McLean, Virginia-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for one-time gains and costs, were 11 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 19 cents per share.
The business development company posted revenue of $10.7 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $13.7 million.
Gladstone Investment shares have fallen 25% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.96, a fall of 11% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GAIN at https://www.zacks.com/ap/GAIN
Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.