Bexil Corporation Announces First Quarter 2011 Financial Results
May 20 2011 - 5:51PM
Marketwired
Bexil Corporation (PINKSHEETS: BXLC) today reported its financial
results for the first quarter ended March 31, 2011.
Bexil recorded a net loss of $335,130 or $$0.33 per share for
the three months ended March 31, 2011 compared to a net loss of
$170,867 or $0.17 per share for the three months ended March 31,
2010.
The Company's book value per share at March 31, 2011 (1,017,592
shares issued and outstanding) was $35.46. At March 31, 2011, Bexil
had positive working capital of $30,702,986, total assets of
$36,693,252, no long term debt, and shareholders' equity of
$36,085,400.
The Company's unaudited balance sheet, statements of income, and
statements of cash flows as of and for the three months ended March
31, 2011 are appended to the copy of this press release on
www.bexil.com.
About Bexil Corporation Bexil is engaged
through a subsidiary as investment manager to Dividend and Income
Fund, Inc., a closed end fund (NYSE: DNI) (NAV: XDNIX). To learn
more about Bexil, including Rule 15c2-11 information, please visit
www.bexil.com. Certain affiliates of Bexil are engaged in stock
market and gold investing through investment management of equity
and gold mutual funds, closed end funds, and proprietary
trading.
Safe Harbor Note
This release contains certain "forward looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements involve known and
unknown risks, uncertainties and other factors, many of which are
beyond the control of Bexil Corporation, which may cause the
company's actual results to be materially different from those
expressed or implied by such statements. The forward looking
statements made herein are only made as of the date of this
release, and the company undertakes no obligation to publicly
update such forward looking statements to reflect subsequent events
or circumstances.
The Company views book value per share, a non-GAAP financial
measure, as an important indicator of financial performance.
Presented in conjunction with other financial information, the
combined presentation can enhance an investor's understanding of
the Company's underlying financial condition and results from
operations. The definition of book value as presented in this press
release is shareholders' equity divided by currently issued and
outstanding shares.
Contact: Thomas O'Malley Chief Financial Officer 1-212-785-0400,
ext. 267 Email Contact www.bexil.com
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