Bexil Corporation Announces First Quarter 2012 Financial Results
May 31 2012 - 3:26PM
Marketwired
Bexil Corporation (PINKSHEETS: BXLC) today reported its financial
results for the first quarter ended March 31, 2012.
Bexil recorded a net loss attributable to Bexil shareholders of
$772,758 or $0.76 per share for the three months ended March 31,
2012 compared to a net loss attributable to Bexil shareholders of
$355,130 or $0.33 per share for the three months ended March 31,
2011.
The Company's book value per share attributable to Bexil
shareholders at March 31, 2012 (1,018,592 shares issued and
outstanding) was $33.90. At March 31, 2012, Bexil had positive
working capital of $29,977,199, total assets of $35,995,294, no
long term debt, and shareholders' equity attributable to Bexil
shareholders of $34,525,899.
The Company's unaudited balance sheet, statements of income, and
statements of cash flows as of and for the three months ended March
31, 2012 are appended to the copy of this press release on
www.bexil.com.
About Bexil Corporation Bexil is a holding
company engaged through subsidiaries in investment management,
securities trading, and mortgage banking. Bexil subsidiary Bexil
Advisers LLC is investment manager to Dividend and Income Fund, a
closed end fund (NYSE: DNI) (NAV: XDNIX). Bexil American Mortgage
Inc., a new mortgage subsidiary of Bexil, is engaged in the
mortgage banking business including, but not limited to
origination, production, and sales into the secondary market. 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 and closed end funds.
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, 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 attributable to Bexil shareholders
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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