On November 10, 2009, Mark Perrigo delivered to the board of directors of Gladstone Investment Corporation his intention to resign as Chief Financial Officer of the Company. Mr. Perrigo's resignation will become effective on November 20, 2009.

Gladstone Investment Corporation reported unaudited consolidated earnings for the second quarter and six months ended September 30, 2009. For the quarter, the company's net investment income was $2.4 million, or $0.11 per common share, as compared to $3.8 million, or $0.17 per common share, for the quarter ended September 30, 2008, a decrease in net investment income of 36.8% and a decrease of 35.3% per common share. Total investment income was $4.9 million against $6.8 million a year ago. Net decrease in net assets resulting from operations was $18.1 million or $0.82 basic and diluted per share against net increase in net assets resulting from operations of $956,000 or $0.04 basic and diluted per share a year ago. Net asset value was $9.19 against $10.77 a year ago. For the six months, the company's net investment income was $4.8 million, or $0.22 per common share, as compared to $6.8 million, or $0.33 per common share, for the six months ended September 30, 2008, a decrease in net investment income of 29.4% and a decrease of 33.3% per common share. The decrease in Net Investment Income was primarily driven by a reduction of the company's investment portfolio as a result of the sale of the majority of its senior syndicated loans during the six months ended September 30, 2009, partially offset by decreased interest expense on lower outstanding borrowings when compared to the prior year periods. Total investment income was $10.1 million against $12.8 million a year ago. Net decrease in net assets resulting from operations was $27.3 million or $1.24 basic and diluted per share against $3.5 million or $0.17 basic and diluted per share a year ago. Net asset value was $9.73 against $12.47 a year ago.

Gladstone Investment Corporation, Q2 2010 Earnings Call, Nov-04 2009