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Gladstone Capital Corporation Reports Financial Results for its Third Quarter Ended June 30, 2021
MCLEAN, VA / ACCESSWIRE / August 3, 2021 / Gladstone Capital Corporation (Nasdaq:GLAD) (the "Company") today announced earnings for its third fiscal quarter
About this update from Gladstone Capital Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / August 3, 2021 / Gladstone Capital Corporation (Nasdaq:GLAD) (the \"Company\") today announced earnings for its third fiscal quarter ended June 30, 2021. 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:June 30,2021 March 31,2021 Change % Change Total investment income$13,666 $12,885 $781 6.1%Total expenses, net of credits (7,062) (6,486) (576)8.9Net investment income 6,604 6,399 205 3.2Net investment income per common share 0.195 0.195 - -Cash distribution per common share 0.195 0.195 - -Net realized gain (loss) 6,531 (1,089) 7,620 (699.7)Net unrealized appreciation 4,819 15,989 (11,170)(69.9)Net increase in net assets resulting from operations 17,954 21,299 (3,345)(15.7)Weighted average yield on interest-bearing investments 10.5% 10.6% (0.1)%(0.9)Total invested$53,192 $72,000 $(18,808)(26.1)Total repayments and net proceeds 54,428 47,912 6,516 13.6As of:June 30,2021March 31,2021Change% ChangeTotal investments, at fair value$506,372$492,767$13,6052.8Fair value, as a percent of cost 97.1% 96.1% 1.0%1.0Net asset value per common share$8.52$8.11$0.415.1Third Fiscal Quarter 2021 Highlights:Portfolio Activity: Invested $38.0 million in three new proprietary portfolio companies and $15.2 million in existing portfolio companies. Received $54.4 million in repayments and net proceeds, primarily from the sale of two proprietary portfolio companies and payoff of one syndicated portfolio company.Portfolio Mix/Yields: Secured first lien assets rose to 65.8% of the portfolio at cost.Portfolio Performance: Portfolio companies continued to perform well, generating equity and loan market value appreciation of $4.8 million and we ended the quarter with no assets on non-accrual.Net Asset Value: Increased 7.9% from March 31, 2021, to $292.4 million, and NAV per share rose 5.1% to $8.52 per share, as of June 30, 2021.Conservative Capital Base: Maintained a debt-to-equity ratio of 76.0%.Credit Facility and Liquidity: Successfully amended and restated our credit facility to, among other things, extend the revol...