Business
Bexil Corporation Reports First Quarter 2022 Financial Results
Bexil Corporation Reports First Quarter 2022 Financial Results.
About this update from Bexil Corp.
[{"type":"text","content":"MILLBROOK, NY / ACCESSWIRE / May 13, 2022 / Bexil Corporation (Stock Symbol:BXLC) ("Bexil" or the "Company") today reported its financial results for the first quarter ended March 31, 2022.For the three months ended March 31, 2022, Bexil recorded net income attributable to Bexil shareholders of approximately $0.14 million or $0.19 of diluted earnings per share, compared to net income attributable to Bexil shareholders of approximately $2.19 million or $2.65 of diluted earnings per share for the three months ended March 31, 2021.Generally Accepted Accounting Principles ("GAAP") require that the Company include the changes in unrealized gains/losses of its equity security investments in net income. Such investment gains/losses include losses of $0.30 million in the three months ended March 31, 2022 and gains of $1.86 million in the three months ended March 31, 2021. The amount of investment gains/losses in any given period is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules, as noted in a recent Berkshire Hathaway press release.The Company's book value per share attributable to Bexil shareholders at March 31, 2022 was $36.25, based on shareholders' equity attributable to Bexil shareholders of approximately $27.3 million and 753,228 shares issued and outstanding. The Company's book value per share attributable to Bexil shareholders at March 31, 2021 was $29.75, based on shareholders' equity attributable to Bexil shareholders of approximately $24.7 million and 830,577 shares issued and outstanding.The limited information above in this press release is not adequate for making an informed investment judgment, and we urge stockholders and investors to read the Company's unaudited quarterly report for the quarterly period ended March 31, 2022, which is available at www.Bexil.com appended to the copy of this press release and at www.otcmarkets.com under the Company's stock symbol.About Bexil CorporationThe 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 ad...