Tuxis Corporation Announces First Quarter 2022 Financial Results

Rhea-AI Summary

Tuxis Corporation (TUXS) reported a net loss of $147,272 or $0.12 per diluted share for Q1 2022, contrasting with a net income of $153,224 or $0.12 per diluted share for the same period last year. As of March 31, 2022, the book value per share stood at $6.12, calculated from shareholders' equity of $7,584,265 across 1,240,038 shares. Investors are encouraged to review the unaudited quarterly report for detailed information, accessible via the company's website.

Positive

• Book value per share increased to $6.12, indicating stable shareholder equity.

Negative

• Net loss of $147,272 in Q1 2022, contrasting sharply with previous net income.
• Significant decline in earnings performance year-over-year.

MILLBROOK, NY / ACCESSWIRE / July 5, 2022 / Tuxis Corporation (Stock Symbol:TUXS) ("Tuxis" or the "Company") today reported its financial results for the first quarter ended March 31, 2022.

The Company recorded a net loss of $147,272 or $0.12 per diluted share for the three months ended March 31, 2022 compared to net income of $153,224 or $0.12 per diluted share for the three months ended March 31, 2021.

The Company's book value per share at March 31, 2022 was $6.12 (shareholders' equity of $7,584,265 divided by 1,240,038 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.Tuxis.com, appended to the copy of this press release, and at www.otcmarkets.com under the Company's stock symbol.

About Tuxis Corporation

The objective of Tuxis Corporation, a holding company, is to increase book value per share over time for the benefit of its shareholders. The Company engages through subsidiaries primarily in real estate development and management. To learn more about Tuxis Corporation, including Rule 15c2-11 information, please visit www.tuxis.com.

Cautionary Note Regarding Forward Looking Statements

Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements concerning the Company's plans, including its plans as to the use of the proceeds from the sale, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, and other information that is not historical information. In some cases, forward looking statements can be identified by terminology such as "believes," "expects," "estimates," "may," "will," "should," "anticipates" or "intends," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward-looking statements by the Company involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause the Company's actual results to be materially different from those expressed or implied by such statements, including the negative impacts from the continued spread of COVID-19 on the economy, the broader financial markets, the Company's financial condition, and results of operations and cash flows. 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. All forward-looking statements, including without limitation, the Company's examination of historical operating trends and estimates of future earnings, are based upon the Company's current expectations and various assumptions. The Company's expectations, beliefs and projections are expressed in good faith, but there can be no assurance that the Company's expectations, beliefs and projections will result or be achieved. All forward looking statements apply only as of the date made. The Company undertakes no obligation to publicly update or revise forward looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

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 divided by currently issued and outstanding shares.

Contact:

Thomas O'Malley
Chief Financial Officer
1-212-785-0900, ext. 267
tomalley@tuxis.com
www.tuxis.com

SOURCE: Tuxis Corporation

View source version on accesswire.com:
https://www.accesswire.com/707619/Tuxis-Corporation-Announces-First-Quarter-2022-Financial-Results

FAQ

What were Tuxis Corporation's Q1 2022 financial results?

Tuxis Corporation reported a net loss of $147,272 or $0.12 per diluted share for Q1 2022.

How does Tuxis Corporation's book value per share compare in Q1 2022?

As of March 31, 2022, Tuxis Corporation's book value per share was $6.12.

What caused Tuxis Corporation's shift from profit to loss?

The shift is attributed to a net loss of $147,272 in Q1 2022, compared to a profit of $153,224 in Q1 2021.

Where can investors find more information about Tuxis Corporation's financials?

Investors can access Tuxis Corporation's unaudited quarterly report on their official website.