Gladstone Investment Corporation Reports Financial Results for its Second Quarter Ended September 30, 2019

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[{"type":"text","content":"MCLEAN, Va., Nov. 04, 2019 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ: GAIN) (the “Company”) today announced earnings for its second quarter ended September 30, 2019. 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 investor relations section of the Company’s website at www.gladstoneinvestment.com. \n Summary Information: (dollars in thousands, except per share data (unaudited)): September 30,2019 June 30,2019 Change %Change For the quarter ended: Total investment income$16,636 $17,310 $(674)(3.9)%Total expenses, net(A)10,053 8,455 1,598 18.9 Net investment income(A)6,583 8,855 (2,272)(25.7)Net realized gain21,144 533 20,611 NM Net depreciation(16,723)(3,342)(13,381)400.4 Net increase in net assets resulting from operations(A)11,004 6,046 4,958 82.0 Net investment income per weighted-average common share(A)0.20 0.27 (0.07)(25.9)Adjusted net investment income per weighted-average common share(B)0.23 0.25 (0.02)(8.0)Net increase in net assets resulting from operations per weighted-average common share(A)0.34 0.18 0.16 88.9 Cash distribution per common share from net investment income0.16 0.20 (0.04)(20.0)Cash distribution per common share from realized gains(C)0.07 0.09 (0.02)(22.2) Weighted-average yield on interest-bearing investments15.0 13.1 1.9 14.5 Total dollars invested$20,150 $51,230 $(31,080)(60.7)Total dollars repaid andcollected from sales46,985 41,480 5,505 13.3 As of: Total investments, at fair value$608,336 $631,186 $(22,850)(3.6)%Fair value, as a percent of cost102.5%105.2%(2.7)%(2.6)Net assets$406,830 $403,506 $3,324 0.8 Net asset value per common share12.39 12.29 0.10 0.8 Number of portfolio companies29 29 — — (A)Inclusive of $0.9 million, or $0.03 per weighted-average common share, and $(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, 2019, and reversed during the three months ended June 30, 2019, respectively. These fees were accrued or 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 respective perio...

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