MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Gladstone Investment Corp. (GAIN) on Monday reported a loss of $6.5 million in its fiscal first quarter.
The McLean, Virginia-based company said it had a loss of 18 cents per share. Earnings, adjusted for one-time gains and costs, were 24 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 25 cents per share.
The business development company posted revenue of $22.2 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $24.3 million.
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