GAIN FY 2016 Earnings Report — Gladstone Investment Corporation Revenue & Financial Results | Market Cap Arena

Gladstone Investment CorporationGAIN

FY 2016 Earnings

Reported May 17, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$33M	—	$54M	—	-38.8%
Op. Income	$25M	—	$50M	—	-50.5%
Gross Margin	87.5%	—	93.5%	—	-6.0pp
Net Margin	74.7%	—	92.3%	—	-17.6pp
EPS (Diluted)	$0.82	—	$1.88	—	-56.4%
Free Cash Flow	$4M	—	-$98M	—	104.2%

Revenue Flow

Item	Amount
REVENUE	$33M
Cost of Revenue	$4M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$4M
SG&A Expenses	$4M
Other Expenses	$48.0K
Operating Expenses	$4M
Cost & Expenses	$8M
OPERATING INCOME	$25M
Interest Income	$46M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$25M
Income Tax Expense	$0
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$25M
D&A	$0
EBIT	$25M
EBITDA	$25M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$33M
Cost of Revenue	$4M
GROSS PROFIT	$29M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$4M
SG&A Expenses	$4M
Other Expenses	$48.0K
Operating Expenses	$4M
Cost & Expenses	$8M
OPERATING INCOME	$25M
Interest Income	$46M
Interest Expense	$4M
Other Income/Expenses	$0
INCOME BEFORE TAX	$25M
Income Tax Expense	$0
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$25M
D&A	$0
EBIT	$25M
EBITDA	$25M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$25M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$19M
Change in Working Capital	-$1M
OPERATING CASH FLOW	$4M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	-$24M
Common Stock Repurchased	$0
Common Dividends Paid	-$23M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$5M
FREE CASH FLOW	$4M
Net Change in Cash	-$440.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$4M
Short-Term Investments	$0
Net Receivables	$4M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$9M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$10M
Tax Assets	$0
Other Non-Current Assets	$484M
TOTAL NON-CURRENT ASSETS	$494M
TOTAL ASSETS	$503M
Account Payables	$1M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1M
Long-Term Debt	$100M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$123M
TOTAL NON-CURRENT LIABILITIES	$223M
TOTAL LIABILITIES	$224M
Common Stock	$30.0K
Additional Paid-In Capital	$312M
Retained Earnings	$6M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	-$39M
TOTAL STOCKHOLDERS' EQUITY	$279M
Minority Interest	$0
TOTAL EQUITY	$279M
TOTAL LIABILITIES & EQUITY	$503M
Total Debt	$100M
Net Debt	$96M