Bexil Corporation Announces First Quarter 2020 Financial Results

NEW YORK, NY / ACCESSWIRE / May 12, 2020 / Bexil Corporation BXLC ("Bexil" or the "Company") today reported its financial results for the first quarter ended March 31, 2020.

For the three months ended March 31, 2020, Bexil recorded a net loss attributable to Bexil shareholders of approximately $5.47 million or $6.65 per diluted share, compared to net income attributable to Bexil shareholders of approximately $2.14 million or $2.40 per diluted share for the three months ended March 31, 2019.

The Company's book value per share attributable to Bexil shareholders at March 31, 2020 was $20.06, based on shareholders' equity attributable to Bexil shareholders of approximately $16.49 million and 822,132 shares issued and outstanding.

The Company's unaudited consolidated balance sheet, statements of comprehensive income (loss), and statements of cash flows as of and for the three months ended March 31, 2020 are appended to the copy of this press release on www.Bexil.com.

About Bexil Corporation

Bexil is primarily engaged through a wholly owned subsidiary in investment management. To learn more about Bexil, including Rule 15c2-11 information, please visit www.Bexil.com.

Safe Harbor Note

This release may contain certain "forward looking statements" within the meaning of federal securities laws including, but not limited to 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. The Company may also make additional forward looking statements from time to time. All such subsequent forward looking statements, whether written or oral, by the Company or on its behalf, are also expressly qualified by these cautionary 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. All 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
tomalley@bexil.com
www.Bexil.com

SOURCE: Bexil Corporation