Gladstone Investment Corporation Reports Financial Results for its Fourth Quarter and Fiscal Year Ended March 31, 2020

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[{"type":"text","content":"MCLEAN, Va., May 12, 2020 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) today announced earnings for its fourth quarter and fiscal year ended March 31, 2020. 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 investor relations section of the Company’s website at www.gladstoneinvestment.com. \n Summary Information: (dollars in thousands, except per share data (unaudited)): March 31, 2020 December 31, 2019 Change % Change For the quarter ended: Total investment income$11,982 $15,996 $(4,014)(25.1)%Total expenses, net(A)(2,784)9,838 (12,622)NM Net investment income(A)14,766 6,158 8,608 139.8 Net realized (loss) gain(10,879)34,005 (44,884)NM Taxes on deemed distribution of long-term capital gains(10,260)— (10,260)NM Net unrealized depreciation(31,229)(26,845)(4,384)16.3 Net (decrease) increase in net assets resulting from operations(A)(37,602)13,318 (50,920)NM Net investment income per weighted-average common share(A)0.45 0.19 0.26 136.8 Adjusted net investment income per weighted-average common share(B)0.19 0.23 (0.04)(17.4)Net (decrease) increase in net assets resulting from operations per weighted-average common share(A)(1.15)0.41 (1.56)NM Cash distribution per common share from net investment income0.19 0.20 (0.01)(5.0)Cash distribution per common share from realized gains(C)0.03 0.09 (0.06)(66.7) Weighted-average yield on interest-bearing investments12.4 12.6 (0.2)(1.6)Total dollars invested$50,145 $23,924 $26,221 109.6 Total dollars repaid and collected from sales2,943 78,532 (75,589)(96.3) As of: Total investments, at fair value$565,924 $560,836 $5,088 0.9%Fair value, as a percent of cost92.8%97.8%(5.0)%(5.1)Net assets$369,031 $410,498 $(41,467)(10.1)Net asset value per common share11.17 12.51 (1.34)(10.7)Number of portfolio companies28 28 — — March 31, 2020 March 31, 2019 Change % Change For the year ended: Total investment income$61,924 $59,663 $2,261 3.8%Total expenses, net(A)25,562 52,122 (26,560)(51.0)Net investment income(A)36,362 7,541 28,821 382.2 Net realized gain44,803 66,869 (22,066)(33.0)Taxes on deemed distribution of long-term capital gains(10,260)(13,500)3,240 (24.0)Net unrealized (depreciation) appreciation(78,139)20,680 (98,819)NM Net ...

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