MCLEAN, Va. (Aug. 3, 2011)—Gladstone Investment Corp. reported a 16.8-percent decrease in net investment income of $3.5 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, Calif., which develops, mixes and molds rubber compounds for specialized application in the non-tire rubber market.