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PennantPark: Fiscal 1Q Earnings Snapshot

NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Thursday reported fiscal first-quarter profit of $6.8 million.

The New York-based company said it had net income of 10 cents per share. Earnings, adjusted for investment costs, were 18 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The business development company posted revenue of $27.4 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $28.4 million.

PennantPark shares have increased 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.20, a climb of slightly more than 8 percent in the last 12 months.


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