Gladstone Investment Corporation Reports Financial Results for its Third Quarter Ended December 31, 2019

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[{"type":"text","content":"MCLEAN, Va., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) today announced earnings for its third quarter ended December 31, 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)): December 31,2019 September 30,2019 Change %Change For the quarter ended: Total investment income $15,996 $16,636 $(640) (3.8)%Total expenses, net(A) 9,838 10,053 (215) (2.1)Net investment income(A) 6,158 6,583 (425) (6.5)Net realized gain 34,005 21,144 12,861 60.8 Net unrealized depreciation (26,845) (16,723) (10,122) 60.5 Net increase in net assets resulting from operations(A) 13,318 11,004 2,314 21.0 Net investment income per weighted-average common share(A) 0.19 0.20 (0.01) (5.0)Adjusted net investment income per weighted-average common share(B) 0.23 0.23 — — Net increase in net assets resulting from operations per weighted-average common share(A) 0.41 0.34 0.07 20.6 Cash distribution per common share from net investment income 0.20 0.16 0.04 25.0 Cash distribution per common share from realized gains(C) 0.09 0.07 0.02 28.6 Weighted-average yield on interest-bearing investments 12.6 15.0 (2.4) (16.0)Total dollars invested $23,924 $20,150 $3,774 18.7 Total dollars repaid and collected from sales 78,532 46,985 31,547 67.1 As of: Total investments, at fair value $560,836 $608,336 $(47,500) (7.8)%Fair value, as a percent of cost 97.8% 102.5% (4.7)% (4.6)Net assets $410,498 $406,830 $3,668 0.9 Net asset value per common share 12.51 12.39 0.12 1.0 Number of portfolio companies 28 29 (1) (3.4) (A) Inclusive of $1.4 million, or $0.04 per weighted-average common share, and $0.9 million, or $0.03 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended December 31, 2019 and September 30, 2019, respectively. These fees were accrued in accordance with United States generally accepted accounting principles (“U.S. GAAP”). As of December 31, 2019, only a portion of total capital gains-based inventive fees accrued under GAAP were contractually due under the...

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