Market Overview

Gladstone Capital Corporation Reports Financial Results for its Fourth Quarter and Fiscal Year Ended September 30, 2017

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MCLEAN, Va., Nov. 20, 2017 (GLOBE NEWSWIRE) -- Gladstone Capital Corporation (NASDAQ:GLAD) (the "Company") today announced earnings for its fourth quarter and fiscal year ended September 30, 2017.  Please read the Company's Annual Report on Form 10-K filed today with the U.S. Securities and Exchange Commission (the "SEC"), which is available on the SEC's website at www.sec.gov, and the Company's website at www.GladstoneCapital.com

Summary Information (dollars in thousands, except per share data) (unaudited):

                   
For the Quarter Ended:   September 30,
2017
  June 30,
2017
   Change   % Change  
                   
Total investment income   $ 10,834   $ 9,632   $ 1,202   12.5 %
Total expenses, net of credits   (5,348 ) (4,253 ) (1,095 ) (25.7 )
Net investment income   5,486   5,379   107   2.0  
Net investment income per common share   0.21   0.21      
Cash distribution per common share   0.21   0.21      
Net realized loss   (1,337 ) (23 ) (1,314 ) (5,713.0 )
Net unrealized appreciation   1,294   807   487   60.3  
Net increase in net assets resulting from operations   5,443   6,163   (720 ) (11.7 )
Weighted average yield on interest-bearing investments   11.8 % 11.5 % 0.3 % 2.6  
Total invested   $ 16,643   $ 35,791   $ (19,148 ) (53.5 )
Total repayments and net proceeds   12,363   6,014   6,349   105.6  
                   
As of:   September 30,
2017
  June 30,
2017
  Change   % Change  
Total investments, at fair value   $  

352,373
  $ 345,503   $ 6,870   2.0 %
Fair value, as a percent of cost   85.6 % 85.1 % 0.5 % 0.6  
Net asset value per common share   $ 8.40   $ 8.38   $ 0.02   0.2  
                         


                   
For the Year Ended:   September 30,
2017
  September 30,
2016
   Change   % Change  
                   
Total investment income   $ 39,233   $ 39,112   $ 121   0.3 %
Total expenses, net of credits   (17,800 ) (19,625 ) 1,825   (9.3 )
Net investment income   21,433   19,487   1,946   10.0  
Net investment income per common share   0.84   0.84      
Cash distribution per common share   0.84   0.84      
Total net realized (loss) gain   (4,763 ) 7,152   (11,915 ) (166.6 )
Total net unrealized appreciation (depreciation)   510   (15,272 ) 15,782   NM  
Net increase in net assets resulting from operations   17,180   11,367   5,813   51.1  
Weighted average yield on interest-bearing investments   11.6 % 11.1 % 0.5 % 4.5  
Total invested   $ 112,092   $ 89,546   $ 22,546   25.2  
Total repayments and proceeds   83,444   130,666   (47,222 ) (36.1 )
                   
As of:   September 30,
2017
  September 30,
2016
  Change   % Change  
Total investments, at fair value   $ 352,373   $ 322,114   $ 30,259   9.4  
Fair value as a percent of cost   85.6 % 84.4 % 1.2 % 1.4  
Net asset value per common share   $ 8.40   $ 8.62   $ (0.22 ) (2.6 )
               
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