NEW YORK (AP) _ Saratoga Investment Corp. (SAR) on Tuesday reported fiscal second-quarter net income of $7.9 million.
On a per-share basis, the New York-based company said it had profit of 71 cents. Earnings, adjusted for investment gains, were 63 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The business development company posted revenue of $18.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $16.7 million.
Saratoga Investment shares have climbed 41% since the beginning of the year.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAR at https://www.zacks.com/ap/SAR
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News