Income and assets decrease in Q2 at Gladstone

ERJ staff report (LMH)

Mclean, Virginia - Gladstone Investment Corp. has reported a 16.8 percent decrease in net investment income of $3.5 million (Euro 2.5 million) in the second quarter 2011, from $4.2 million, during the same period last year.

The group, which invested $16.4 million in Mitchell Rubber Products, Inc. in April 2011, also reported a 22-percent decrease in net assets of $4.2 million from $5.4 million.

Gladstone invested in Mitchell, headquartered in Mira Loma, California, which develops, mixes and moulds rubber compounds for specialised application in the non-tyre rubber market.

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Press release from Gladstone