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PennantPark: Fiscal 2Q Earnings Snapshot

NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Thursday reported a fiscal second-quarter loss of $4.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 7 cents. Earnings, adjusted for investment costs, came to 16 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The business development company posted revenue of $28.7 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $28.9 million.

PennantPark shares have risen almost 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.68, a decrease of almost 3% 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