Gladstone Investment: Fiscal Q1 Earnings Snapshot

MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Monday reported fiscal first-quarter profit of $47.1 million.

The McLean, Virginia-based company said it had net income of $1.42 per share. Earnings, adjusted for non-recurring gains, were 24 cents per share.

The results topped 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 $18 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $14.8 million.

Gladstone Investment shares have climbed 42% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.33, an increase of 56% in the last 12 months.

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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

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