Gladstone Capital Corporation announced unaudited consolidated earnings results for the first quarter ended December 31, 2012. For the quarter, the company's net investment income was $4.9 million, or $0.23 per share, as compared to the prior quarter ended September 30, 2012 of $4.5 million, or $0.22 per share. This 7% increase in net investment income was primarily due to a decrease in total operating expenses of $0.5 million, offset by a decrease in total investment income of $0.2 million.

Interest income on investments decreased by $0.6 million quarter over quarter due to several early payoffs at par occurring during the fourth quarter of fiscal year 2012 and the first quarter of fiscal year 2013. Other income increased by $0.4 million quarter over quarter due to an increase in success and prepayment fees resulting from the early payoffs during the quarter ended December 31, 2012. Net asset value per common share was $9.17 as compared to the prior quarter ended September 30, 2012 of $8.98.