Bexil Corporation Announces First Quarter 2015 Financial Results
(firmenpresse) - NEW YORK, NY -- (Marketwired) -- 06/16/15 -- Bexil Corporation (OTC PINK: BXLC) today reported its financial results for the first quarter ended March 31, 2015. Bexil recorded a net loss attributable to Bexil shareholders of $0.4 million or $0.42 per share for the three months ended March 31, 2015, compared to a net loss attributable to Bexil shareholders of $0.9 million or $0.93 per share for the three months ended March 31, 2014. Net loss includes $0.6 million or $0.53 per share and $1.4 million or $1.16 per share in losses from discontinued operations for the three months ended March 31, 2015 and 2014, respectively. From continuing operations Bexil recorded net income of $0.1 million or $0.11 per share for the three months ended March 31, 2015, compared to net income of $0.2 million or $0.23 per share for the three months ended March 31, 2014.
Bexil subsidiaries Bexil American Mortgage Inc. (92% owned by Bexil) and Castle Mortgage Corporations (90% owned by Bexil American) had been engaged in the mortgage banking business but discontinued their mortgage activities in 2014. On May 1, 2015, Bexil American entered into an agreement to sell Castle. Closing is subject to customary conditions and approvals of certain government sponsored enterprises and state licensing authorities.
The Company's book value per share attributable to Bexil shareholders at March 31, 2015 was $17.86, based on shareholders' equity attributable to Bexil shareholders of $17.5 million 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 three months ended March 31, 2015 are appended to the copy of this press release on .
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 .
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.
Contact:
Thomas O'Malley
Chief Financial Officer
1-212-785-0900, ext. 267
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Datum: 16.06.2015 - 14:46 Uhr
Sprache: Deutsch
News-ID 400868
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NEW YORK, NY
Kategorie:
Commercial & Investment Banking
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