NEW YORK (AP) _ PennantPark Investment Corp. (PNNT) on Wednesday reported fiscal second-quarter net income of $38.5 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had profit of 57 cents per share. Earnings, adjusted for investment gains, came to 13 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 13 cents per share.

The business development company posted revenue of $19.2 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $19.5 million.

PennantPark shares have increased 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.50, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PNNT at https://www.zacks.com/ap/PNNT