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MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Tuesday reported fiscal third-quarter earnings of $15.3 million.
The McLean, Virginia-based company said it had net income of 46 cents per share. Earnings, adjusted for investment gains, were 24 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The business development company posted revenue of $17.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $12.2 million.
Gladstone Investment shares have increased roughly 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.58, a decrease of 20% in the last 12 months.