Daxor Corporation (NASDAQ:DXR) Q4 2023 Earnings Call Transcript
Daxor Corporation (NASDAQ:DXR) Q4 2023 Earnings Call Transcript March 25, 2024
Daxor Corporation isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Ladies and gentlemen, thank you for standing by. Good afternoon, and welcome to the Daxor Corporation Conference Call for the Corporate Update and Financial Results for the Year 2023. At this time, all participants are in a listen-only mode. After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] During this call, management will be making forward-looking statements, including statements that address Daxor's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in Daxor's most recently filed annual report on Form N-CSR and subsequent periodic reports filed with the SEC and Daxor's press release that accompanies this call, particularly the cautionary statements in it.
These reports are available on daxor.com. The content of this call contains time-sensitive information that is accurately only as of today, March 25, 2024. Except as required by law, Daxor disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn this call over to CEO and President, Michael Feldschuh.
Michael Feldschuh: Thank you, Natalie (ph), and good afternoon, everyone, and welcome to the Daxor Annual Shareholder Call. I would like to turn the floor over to our Chief Financial Officer, Robert Michel for some highlights from our financial performance. Bob?
Robert Michel: Thank you, Michael, and good afternoon, everybody. Here's a summary of our fiscal 2023 financial results. For year ended December 31, 2023, Daxor's net assets increased 17.4% to $34,10,384 or $7.08 per share as compared to $28,969,469 or $6.75 per share at December 31, 2022. Valuation of the operating division increased $6 million to $32 million at December 31, 2023, from $26 million at December 31, 2022. The increase during 2023 is based on an annual independent valuation performed for the year ended December 31, 2023, utilizing a hybrid of methods of the income approach using the discounted cash flow method and the market approach realizing recent arm's length transactions. In 2023, $464,599 Daxor treasury shares were sold in a price of $9.75.
The discounted cash flow realized 35% of this weighting on the income approach and utilize 65% weighting on the market approach. For year-end December 31, 2023, Daxor had net dividend income of $157,378. Net realized gains on investment of activity of $603,774. There was a decrease -- a net decrease in the unrealized depreciation on investments of $885,199 as we sold long-held positions during the year 2023 and from which prior year's significant unrealized gains unwound into realized gains for the period. Included in net – net increase in net assets resulting from operations of $280,640 is a non-cash stock-based compensation expense of $631,701. In an effort to provide incentive to employees, officers, agents and consultants to the company we utilize stock-based incentive awards.
See also 20 Highest Paid CEOs in the US and Their College Degrees and 20 Countries with the Highest Heart Disease Deaths Per Capita.
To continue reading the Q&A session, please click here.
