Bexil Corporation Reports Second Quarter 2021 Financial Results

Rhea-AI Summary

Bexil Corporation (OTC PINK:BXLC) reported strong financial results for Q2 2021, with net income of approximately $3.10 million or $3.69 diluted earnings per share, a significant increase from $1.46 million or $1.74 EPS in Q2 2020. For the first half of 2021, the company achieved a net income of $5.29 million, reversing a net loss of $4.01 million in the same period last year. The book value per share stands at $33.52 based on total equity of $27.8 million.

Positive

• Net income for Q2 2021 increased to $3.10 million, up from $1.46 million in Q2 2020.
• Earnings per share for Q2 2021 rose to $3.69, compared to $1.74 in Q2 2020.
• First half of 2021 net income of $5.29 million, a recovery from a loss of $4.01 million in the same period of 2020.
• Book value per share reached $33.52, reflecting positive shareholder equity.

Negative

• None.

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MILLBROOK, NY / ACCESSWIRE / August 13, 2021 / Bexil Corporation (OTC PINK:BXLC) ("Bexil" or the "Company") today reported its financial results for the second quarter ended June 30, 2021.

For the three months ended June 30, 2021, Bexil recorded net income attributable to Bexil shareholders of approximately $3.10 million or $3.69 of diluted earnings per share, compared to net income attributable to Bexil shareholders of approximately $1.46 million or $1.74 of diluted earnings per share for the three months ended June 30, 2020.

For the six months ended June 30, 2021, Bexil recorded net income attributable to Bexil shareholders of approximately $5.29 million or $6.34 of diluted earnings per share compared to a net loss attributable to Bexil shareholders of approximately $4.01 million or $4.88 of diluted earnings per share for the six months ended June 30, 2020.

The Company's book value per share attributable to Bexil shareholders at June 30, 2021 was $33.52, based on shareholders' equity attributable to Bexil shareholders of approximately $27.8 million and 830,577 shares issued and outstanding.

The Company's consolidated unaudited balance sheet, statements of comprehensive income (loss), and statements of cash flows as of and for the six months ended June 30, 2021 are appended to the copy of this press release at www.Bexil.com.

About Bexil Corporation

The objective of Bexil Corporation, a holding company, is to increase book value per share over time for the benefit of its shareholders. The Company is primarily engaged through a wholly owned subsidiary, Bexil Advisers LLC, in investment management. Bexil Advisers is a registered investment adviser and the investment manager to Dividend and Income Fund, a closed end fund (DNIF)(XDNIX). 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 the 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

View source version on accesswire.com:
https://www.accesswire.com/659734/Bexil-Corporation-Reports-Second-Quarter-2021-Financial-Results

FAQ

What is Bexil Corporation's latest earnings report for Q2 2021?

Bexil Corporation reported a net income of $3.10 million or $3.69 EPS for Q2 2021.

How did Bexil Corporation perform in the first half of 2021?

The company achieved a net income of $5.29 million in the first half of 2021, a significant turnaround from a net loss of $4.01 million in the same period last year.

What is Bexil Corporation's book value per share as of June 30, 2021?

The book value per share as of June 30, 2021, is $33.52.

What was the change in diluted earnings per share for Bexil Corporation from Q2 2020 to Q2 2021?

Diluted earnings per share rose from $1.74 in Q2 2020 to $3.69 in Q2 2021.