NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Monday reported a loss of $60.3 million in its fiscal second quarter.
The New York-based company said it had a loss of 90 cents per share. Earnings, adjusted for investment costs, came to 15 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 16 cents per share.
The business development company posted revenue of $27.5 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $27.6 million.
In the final minutes of trading on Monday, the company's shares hit $3. A year ago, they were trading at $6.68.