Gladstone Capital Corporation reported a net investment income of $6.5 million, or $0.21 per share, for the quarter ended March 31, 2020. The Net Decrease in Net Assets Resulting from Operations was $27.8 million, or $0.89 per share, driven by net portfolio depreciation and net realized loss on investments.
Interest income decreased by $0.5 million, or 4.0%, due to lower average Libor rates.
Other income decreased by $0.2 million, or 30.3%, primarily due to a decrease in dividend income received.
Total expenses decreased by 13.9% quarter over quarter, largely as a result of the $0.8 million increase in the incentive fee credit granted by the Adviser.
Net Investment Income for the quarter ended March 31, 2020 was $6.5 million, or $0.21 per share.
Gladstone Capital was in a relatively strong capital position entering last quarter. The company believes it has sufficient levels of liquidity to support its existing portfolio companies and selectively deploy capital in new investment opportunities.
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