Gladstone Investment Corporation Reports Financial Results for its Fourth Quarter and Fiscal Year Ended March 31, 2021

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[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / May 11, 2021 / Gladstone Investment Corporation (NASDAQ:GAIN) (the \"Company\") today announced earnings for its fourth quarter and fiscal year ended March 31, 2021. Please read the Company's Annual Report on Form 10-K filed today with the U.S. Securities and Exchange Commission (the \"SEC\"), which is available on the SEC's website at www.sec.gov or the investors section of the Company's website at www.gladstoneinvestment.com.Summary Information: (dollars in thousands, except per share data (unaudited)): March 31, 2021December 31, 2020Change%ChangeFor the quarter ended: Total investment income$16,708 $17,372$(664)(3.8)%Total expenses, net(A)13,566 11,1172,44922.0Net investment income(A)3,142 6,255(3,113)(49.8)Net realized gain113 9,105(8,992)(98.8)Net unrealized appreciation (depreciation)17,259 (89)17,348NMNet increase in net assets resulting from operations(A)20,514 15,2715,24334.3Net investment income per weighted-average common share(A)0.09 0.19(0.10)(52.6)Adjusted net investment income per weighted-average common share(B)0.20 0.24(0.04)(16.7)Net increase in net assets resulting from operations per weighted-average common share(A)0.62 0.460.1634.8Cash distribution per common share from net investment income0.15 0.20(0.05)(25.0)Cash distribution per common share from net realized gains(C)0.06 0.010.05500.0 Weighted-average yield on interest-bearing investments11.9%11.9%--Total dollars invested$5,701 $32,189$(26,488)(82.3)Total dollars repaid andcollected from sales532 49,145(48,613)(98.9) As of: Total investments, at fair value$633,829 $610,888$22,9413.8%Fair value, as a percent of cost95.5%92.9%2.6%2.8Net assets$382,364 $368,823$13,5413.7Net asset value per common share11.52 11.110.413.7Number of portfolio companies28 28-- March 31, 2021March 31, 2020Change%ChangeFor the year ended: Total investment income$56,627 $61,924$(5,297)(8.6)%Total expenses, net(A)38,689 25,56213,12751.4Net investment income(A)17,938 36,362(18,424)(50.7)Net realized gain10,592 44,803(34,211)(76.4)Taxes on deemed distribution of long-term capital gains-(10,260)(10,260)(100.0)Net unrealized appreciation (depreciation)13,924 (78,139)92,063117.8Net increase (decrease) in net assets resulting from operations(A)42,454 (7,234)49,688NMNet investment income per weighted-average common share(A)0.54 1.11(0.57)(51.4)Adjusted net invest...

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