Gladstone Investment Corporation Reports Financial Results for its Second Quarter Ended September 30, 2020

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[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / November 3, 2020 / Gladstone Investment Corporation (NASDAQ:GAIN) (the \"Company\") today announced earnings for its second fiscal quarter ended September 30, 2020. 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 or the investors section of the Company's website at www.gladstoneinvestment.com.Summary Information: (dollars in thousands, except per share data (unaudited)): September 30, 2020 June 30,2020 Change %Change For the quarter ended: Total investment income $11,840 $10,707 $1,133 10.6%Total expenses, net(A) 7,472 6,534 938 14.4 Net investment income(A) 4,368 4,173 195 4.7 Net realized gain 621 753 (132)(17.5)Net unrealized appreciation (depreciation) 1,641 (4,887)6,528 NM Net increase in net assets resulting from operations(A) 6,630 39 6,591 NM Net investment income per weighted-average common share(A) 0.13 0.13 - - Adjusted net investment income per weighted-average common share(B) 0.15 0.11 0.04 36.4 Net increase in net assets resulting from operations per weighted-average common share(A) 0.20 - 0.20 100.0 Cash distribution per common share from net investment income 0.20 0.28 (0.08)(28.6)Cash distribution per common share from net realized gains(C) 0.01 0.02 (0.01)(50.0) Weighted-average yield on interest-bearing investments 12.1 11.8 0.3 2.5 Total dollars invested $57,082 $300 $56,782 NM Total dollars repaid andcollected from sales 1,484 620 864 139.4 As of: Total investments, at fair value $608,962 $561,342 $47,620 8.5%Fair value, as a percent of cost 92.8%92.0%0.8%0.9 Net assets $360,526 $360,869 $(343)(0.1)Net asset value per common share 10.86 10.87 (0.01)(0.1)Number of portfolio companies 29 28 1 3.6 (A) Inclusive of $0.5 million, or $0.02 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended September 30, 2020 and $(0.8) million, or $(0.02) per weighted-average common share, of capital gains-based incentive fees reversed during the three months ended June 30, 2020. These fees were accrued/(reversed) in accordance with United States generally accepted accounting principles (\"U.S. GAAP\"), where such amounts were not contractually due under the terms of the investment advisory agreement for the r...

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