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Mar 31, 2021
Gladstone Investment Q4 2021 Earnings Report
Gladstone Investment reported results for Q4 2021, marked by a decrease in net investment income due to higher expenses and slightly lower investment income, alongside an increase in net asset value per share.
Key Takeaways
Gladstone Investment Corporation announced its Q4 and fiscal year-end results for March 31, 2021. The company reported a decrease in net investment income compared to the previous quarter, primarily due to increased expenses and a slight decrease in total investment income. However, net asset value per common share increased, driven by net unrealized appreciation and net investment income, partially offset by distributions to shareholders.
Net investment income decreased to $3.1 million, or $0.09 per share, compared to $6.3 million, or $0.19 per share in the previous quarter.
Total investment income was $16.7 million, down from $17.4 million in the previous quarter, mainly due to lower dividend and success fee income.
Total expenses increased to $13.6 million from $11.1 million in the previous quarter, driven by higher capital gains-based incentive fees and professional fees.
Net asset value per common share rose to $11.52 from $11.11 in the previous quarter, influenced by unrealized appreciation and net investment income.
Forward Guidance
No specific forward guidance was provided in the press release.
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