Pyxis Capital Inc.

Pyxis Capital Inc.

December 22, 2006 16:30 ET

Pyxis Capital Inc.: September 2006 Year End Results

TORONTO, ONTARIO--(CCNMatthews - Dec. 22, 2006) - Pyxis (TSX:PYX) announced today that income before extraordinary items for the six months ended September 30, 2006 was $24.4 million compared with $9.2 million for the six months ended March 31, 2006. The increase from March 2006 reflects future income tax recoveries and higher dividend income offset by a decrease in net gains on investments. Income before extraordinary items per participating share was $0.22 for the six months ended September 30, 2006 compared to $0.10 per share for the six months ended March 31, 2006.

A summary of the Company's financial results are outlined below:

6 months ended 6 months ended
$ millions, except per share amounts September 30, 2006 March 31, 2006
Revenue $ (0.7) $ 11.6
Income before extraordinary items $ 24.4 $ 9.2
Earnings per share before extraordinary
items $ 0.22 $ 0.10
Extraordinary gains $ - $ 82.4
Net income $ 24.4 $ 91.6
Earnings per share $ 0.22 $ 1.01

The Company cautions that earnings of an investment company are largely dependent on factors and events which do not occur evenly period to period, including the timing of investment sales, the receipt of dividends, currency exchange fluctuations, security market price fluctuations and other non-typical, non-recurring events.

Pyxis is a financial services company. The Company's shares are listed on the TSX under the symbol PYX.

This press release includes certain forward looking statements including management's assessment of the Company's future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company's control. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. Readers should not place undue reliance on these forward looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Pyxis Capital Inc.
    Andrew Kim
    President and Chief Executive Officer
    (416) 867-9079
    (416) 867-1961 (FAX)