NEW YORK, NY--(Marketwire -05/31/12)- Bexil Corporation (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 (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.