NEW YORK, NY / ACCESSWIRE / April 20, 2020 / Bexil Corporation (OTC PINK:BXLC) today reported its financial results for the year ended December 31, 2019. Bexil recorded net income attributable to Bexil shareholders of $4.51 million or $5.13 per diluted share for the year ended December 31, 2019, compared to a net loss attributable to Bexil shareholders of $1.27 million or $1.43 per diluted share for the year ended December 31, 2018. The press release has been corrected to remove an incorrect reference.
The Company’s book value per share attributable to Bexil shareholders at December 31, 2019 was $26.72, based on shareholders’ equity attributable to Bexil shareholders of approximately $22.1 million and 826,132 shares issued and outstanding, a per share increase of 29% from $20.77 per share a year earlier.
2020 Annual Meeting of Stockholders
Bexil’s 2020 annual meeting of stockholders will be held by conference call (dial-in number: (267) 930-4000; access code: 373-498-588#) on June 9, 2020 at 11:30 a.m., ET. Stockholders of record at the close of business on April 13, 2020 are entitled to receive notice of and to vote at the meeting. After the formal business of the meeting is concluded, company executives will make a presentation of financial results and business developments and respond to questions.
The Company’s combined Notice of 2020 Annual Meeting and Proxy Statement and 2019 Annual Report, including audited financial statements, is available on www.Bexil.com.
About Bexil Corporation
Bexil is primarily engaged through a subsidiary in investment management. 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, at http://www.bexil.com/cautionary-language.html, 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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