SOURCE: Bexil

Bexil

December 08, 2015 16:15 ET

Bexil Corporation Announces Third Quarter 2015 Financial Results

NEW YORK, NY--(Marketwired - Dec 8, 2015) - Bexil Corporation (OTC PINK: BXLC) today reported its financial results for the third quarter ended September 30, 2015.

For the three months ended September 30, 2015, Bexil recorded a net loss attributable to Bexil shareholders of approximately $484,000 or $0.49 per share, compared to a net loss attributable to Bexil shareholders of approximately $600,000 or $0.62 per share for the three months ended September 30, 2014. Results from discontinued operations include approximately $9,000 or $0.01 per share net income and approximately $1,220,000 or $1.24 per share in net loss for the three months ended September 30, 2015 and 2014, respectively. From continuing operations, Bexil recorded a net loss of approximately $309,000 or $0.33 per share for the three months ended September 30, 2015, compared to net income of approximately $183,000 or $0.19 per share for the three months ended September 30, 2014.

For the nine months ended September 30, 2015, Bexil recorded a net loss attributable to Bexil shareholders of approximately $1,389,000 or $1.41 per share compared to a net loss attributable to Bexil shareholders of approximately $2,027,000 or $2.06 per share for the nine months ended September 30, 2014. Net loss from discontinued operations includes approximately $867,000 or $0.88 per share and approximately $4,700,000 or $4.78 per share for the nine months ended September 30, 2015 and 2014, respectively. From continuing operations, Bexil recorded a net loss of approximately $507,000 or $0.52 per share for the nine months ended September 30, 2015, compared to net income of approximately $1,065,000 or $1.08 per share for the nine months ended September 30, 2014.

The Company's book value per share attributable to Bexil shareholders at September 30, 2015 was $16.59, based on shareholders' equity attributable to Bexil shareholders of approximately $16,297,000 and 982,245 shares issued and outstanding. 

The Company's unaudited balance sheet, statements of comprehensive loss, and statements of cash flows as of and for the nine months ended September 30, 2015 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 and securities trading. To learn more about Bexil, including Rule 15c2-11 information, please visit www.Bexil.com

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. Investors should carefully consider the risks, uncertainties and other factors, together with all of the other information included in the Company's Annual Report and similar information. 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.

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