Great Elm Capital Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 05, 2021 at 07:05 am EDT
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Great Elm Capital Corporation reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported revenue was USD 7.37 million compared to USD 5.95 million a year ago. Net loss was USD 3.13 million compared to net income of USD 7.7 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.72 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.72 a year ago.
For the nine months, revenue was USD 18.9 million compared to USD 17.15 million a year ago. Net income was USD 11.9 million compared to net loss of USD 22.32 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to basic loss per share from continuing operations of USD 2.17 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to diluted loss per share from continuing operations of USD 2.17 a year ago.
Great Elm Capital Corp. is an externally managed business development company. The Company seeks to generate current income and capital appreciation by investing in debt and income generating equity securities, including investments in specialty finance businesses. It invests in secured and senior secured debt instruments of middle market companies, as well as income-generating equity investments in specialty finance companies. It also makes investments throughout other portions of a companyâs capital structure, including subordinated debt, mezzanine debt, and equity or equity-linked securities. The Company's investment advisor is Great Elm Capital Management, Inc. (GECM).