MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Gladstone Investment Corp. (GAIN) on Tuesday reported fiscal fourth-quarter net income of $17.9 million.
The McLean, Virginia-based company said it had net income of 49 cents per share. Earnings, adjusted for investment gains, came to 26 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The business development company posted revenue of $27.5 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $24.8 million.
For the year, the company reported profit of $65.3 million, or $1.78 per share. Revenue was reported as $93.7 million.
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