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Garrison Capital misses Street 4Q forecasts

NEW YORK (AP) _ Garrison Capital Inc. (GARS) on Tuesday reported fourth-quarter net income of $2.9 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had profit of 18 cents per share. Earnings, adjusted for investment costs, came to 31 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The business development company posted revenue of $9.7 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $10.8 million.

For the year, the company reported that its loss widened to $4.8 million, or 30 cents per share. Revenue was reported as $43 million.

Garrison Capital shares have risen roughly 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.98, a decline of slightly more than 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GARS at https://www.zacks.com/ap/GARS

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Keywords: Garrison Capital, Earnings Report