Bexil Corporation Reports 2020 Financial Results and Announces Annual Meeting and Conference Call

Rhea-AI Summary

Bexil Corporation (BXLC) announced its financial results for 2020, reporting a net income of $1.0 million ($1.13 per diluted share), down from $4.51 million ($5.13 per diluted share) in 2019. The company’s book value per share increased by 3% to $27.49, reflecting shareholders' equity of approximately $22.9 million. Bexil's annual meeting is scheduled for June 8, 2021, via conference call, where executives will discuss financial performance and business developments. Investors can access the company’s Annual Report and Proxy Statement on its website.

Positive

• Book value per share increased by 3% to $27.49.
• Net income, despite being lower than last year, showcases continued profitability.

Negative

• Net income decreased significantly from $4.51 million in 2019 to $1.0 million in 2020.
• Earnings per share fell sharply from $5.13 to $1.13.

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Bexil Corporation (OTC PINK:BXLC) ("Bexil" or the "Company") today reported its financial results for the year ended December 31, 2020. Bexil recorded net income attributable to Bexil shareholders of $1.0 million or $1.13 per diluted share for the year ended December 31, 2020, compared to net income attributable to Bexil shareholders of $4.51 million or $5.13 per diluted share for the year ended December 31, 2019.

The Company's book value per share attributable to Bexil shareholders at December 31, 2020 was $27.49, based on shareholders' equity attributable to Bexil shareholders of approximately $22.9 million and 832,654 shares issued and outstanding, a per share increase of 3% from $26.72 per share a year earlier.

2021 Annual Meeting of Stockholders

Bexil's 2021 annual meeting of stockholders will be held by conference call (dial-in number: (267) 930-4000; access code: 373-498-588#) on June 8, 2021 at 11:30 a.m. ET. Stockholders of record at the close of business on April 12, 2021 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 2021 Annual Meeting and Proxy Statement and 2020 Annual Report, including audited financial statements, is available at 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" made 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/647232/Bexil-Corporation-Reports-2020-Financial-Results-and-Announces-Annual-Meeting-and-Conference-Call

FAQ

What were Bexil Corporation's financial results for 2020?

Bexil reported a net income of $1.0 million or $1.13 per diluted share for 2020, a decrease from $4.51 million or $5.13 per diluted share in 2019.

When is Bexil Corporation's annual meeting in 2021?

The annual meeting will be held on June 8, 2021, at 11:30 a.m. ET via conference call.

What is the current book value per share for Bexil Corporation?

As of December 31, 2020, Bexil's book value per share is $27.49, up 3% from the previous year.

How can I access Bexil Corporation's annual report?

The Annual Report and Proxy Statement can be accessed on Bexil's official website at www.Bexil.com.

What factors may impact Bexil Corporation's future performance?

Investors should consider risks and uncertainties outlined in the company's filings that may impact future performance.