NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Wednesday reported fiscal third-quarter profit of $5.6 million.
On a per-share basis, the New York-based company said it had profit of 8 cents. Earnings, adjusted for investment costs, came to 17 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The business development company posted revenue of $28.1 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $29.4 million.
PennantPark shares have decreased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.36, a decrease of 16% in the last 12 months.