Business
Gladstone Capital Corporation Reports Financial Results for its First Quarter Ended December 31, 2023
MCLEAN, VA / ACCESSWIRE / February 5, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its first fiscal quarter
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / February 5, 2024 / Gladstone Capital Corporation (Nasdaq:GLAD) (the \"Company\") today announced earnings for its first fiscal quarter ended December 31, 2023. Please read the Company's Quarterly Report on Form 10-Q filed today with the U.S. Securities and Exchange Commission (the \"SEC\"), which is available on the SEC's website at www.sec.gov and the investors section of the Company's website at www.GladstoneCapital.com .Summary Information (dollars in thousands, except per share data) (unaudited) :For the Quarter Ended: December 31,2023 September 30,2023 Change % Change Total investment income $23,221 $23,756 $(535) (2.3)%Total expenses, net of credits (11,287) (12,769) 1,482 (11.6) Net investment income 11,934 10,987 947 8.6 Net investment income per common share 0.27 0.28 (0.01) (3.6) Cash distribution per common share (A) 0.2475 0.2675 (0.02) (7.5) Net realized gain (loss) 262 (291) 553 (190.0) Net unrealized appreciation (depreciation) 7,805 2,404 5,401 224.7 Net increase (decrease) in net assets resulting from operations 20,001 13,100 6,901 52.7 Weighted average yield on interest-bearing investments 13.9% 13.8% 0.1% 0.7 Total invested $57,998 $27,393 $30,605 111.7 Total repayments and net proceeds 22,066 41,017 (18,951) (46.2) As of: December 31,2023 September 30,2023 Change % Change Total investments, at fair value $749,985 $704,815 $45,170 6.4%Fair value, as a percent of cost 98.7% 97.6% 1.1% 1.1 Net asset value per common share $9.61 $9.39 $0.22 2.3 (A) Includes a $0.02 per common share supplemental distribution paid to common stockholders in September 2023.First Fiscal Quarter 2024 Highlights:Portfolio Activity: Invested $11.0 million in one new portfolio company and $47.0 million in existing portfolio companies.Portfolio Mix: Secured first lien assets continue to be over 70% of our debt investments, at cost, while the weighted average yield on debt investments was consistent at 13.9%.Credit Facility Availability: Increased the committed facility amount by $10.0 million to $233.7 million and ended the quarter with availability in excess of $130 million.First Fiscal Quarter 2024 Results:Total investment income decreased by $0.5 million, or 2.3%, for the quarter ended December 31, 2023, compared to the prior quarter ended September 30, 2023, driven by a $0.3 million decrease in interest income...