Gladstone Investment Corporation Reports Financial Results for its Third Quarter Ended December 31, 2020

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[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / February 2, 2021 / Gladstone Investment Corporation (NASDAQ:GAIN) (the \"Company\") today announced earnings for its third fiscal quarter ended December 31, 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)): December 31, 2020 September 30, 2020 Change % Change For the quarter ended: Total investment income $ 17,372 $ 11,840 $ 5,532 46.7%Total expenses, net(A) 11,117 7,472 3,645 48.8 Net investment income(A) 6,255 4,368 1,887 43.2 Net realized gain 9,105 621 8,484 NM Net unrealized (depreciation) appreciation (89) 1,641 (1,730) NM Net increase in net assets resulting from operations(A) 15,271 6,630 8,641 130.3 Net investment income per weighted-average common share(A) 0.19 0.13 0.06 46.2 Adjusted net investment income per weighted-average common share(B) 0.24 0.15 0.09 60.0 Net increase in net assets resulting from operations per weighted-average common share(A) 0.46 0.20 0.26 130.0 Cash distribution per common share from net investment income 0.20 0.20 - - Cash distribution per common share from net realized gains(C) 0.01 0.01 - - Weighted-average yield on interest-bearing investments 11.9 12.1 (0.2) (1.7)Total dollars invested $ 32,189 $ 57,082 $ (24,893) (43.6)Total dollars repaid and collected from sales 49,145 1,484 47,661 NM As of: Total investments, at fair value $ 610,888 $ 608,962 $ 1,926 0.3%Fair value, as a percent of cost 92.9% 92.8% 0.1% 0.0 Net assets $ 368,823 $ 360,526 $ 8,297 2.3 Net asset value per common share 11.11 10.86 0.25 2.3 Number of portfolio companies 28 29 (1) (3.4) (A) Inclusive of $1.8 million, or $0.05 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 December 31, 2020 and September 30, 2020, respectively. These fees were accrued 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 periods. Also see di...

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