MIAMI BEACH, Fla. (AP) — MIAMI BEACH, Fla. (AP) — PennantPark Investment Corp. (PNNT) on Wednesday reported fiscal fourth-quarter profit of $12.3 million.
On a per-share basis, the Miami Beach, Florida-based company said it had profit of 19 cents. Earnings, adjusted for investment costs, came to 24 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The business development company posted revenue of $34 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $33.4 million.
For the year, the company reported a loss of $33.8 million, or 52 cents per share. Revenue was reported as $145.4 million.