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Press Releases |
August 13, 2004
Bexil Corporation Announces Financial Results for the Second Quarter Ended June 30, 2004
NEW YORK
-- Bexil Corporation (AMEX: BXL) today announced its financial results for the second quarter ended June 30, 2004.
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Three Months
Ended June 30 |
Six Months
Ended June 30 |
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2004 |
2003 |
2004 |
2003 |
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Revenues : |
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|
|
|
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Interest and other income |
$ 36,763 |
$ 37,884 |
$ 102,204 |
$ 83,706 |
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Equity in earnings of
unconsolidated affiliate |
456,348 |
401,904 |
975,853 |
1,355,275 |
 |  | | | |
|
|
493,111 |
439,788 |
1,078,057 |
1,438,981 |
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Expenses: |
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|
|
|
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General and administrative |
179,252 |
139,756 |
382,743 |
260,599 |
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Communication costs |
12,192 |
8,875 |
16,977 |
12,545 |
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Professional fees |
64,167 |
26,585 |
82,965 |
49,605 |
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|
255,611 |
175,216 |
482,685 |
322,749 |
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Income before income taxes |
237,500 |
264,572 |
595,372 |
1,116,232 |
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Income tax expense (benefit) |
(47,929) |
17,828 |
(65,173) |
21,975 |
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Net income |
$ 285,429 |
$ 282,400 |
$ 660,545 |
$ 1,094,257 |
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Per share net income: |
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Basic |
$ 0.32 |
$ 0.32 |
$ 0.75 |
$ 1.26 |
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Diluted |
$ 0.32 |
$ 0.32 |
$ 0.75 |
$ 1.26 |
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Average shares outstanding: |
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Basic |
879,591 |
871,359 |
879,591 |
869,109 |
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Diluted |
879,591 |
871,359 |
880,249 |
869,109 |
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Bexil's primary business is comprised of its 50% interest in privately held York Insurance Services Group, Inc. ("York"). Since the 1930's, York's affiliates have served as third party administrators and independent adjusters providing claims data and risk related services to insurance carriers, self insureds, public entities, brokers, Management Buyout, Leveraged buyout financing, LBO, and other intermediaries. York's claims services include property & casualty, workers' compensation, special investigative unit services & surveillance, transportation & logistics, environmental, construction, and inland & ocean marine. York is a 50% owned unconsolidated affiliate accounted for by the equity method.
York Insurance Services Group, Inc
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2004 |
2003 |
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Revenues : |
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Sales |
$ 28,380,576 |
$ 24,739,656 |
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Expenses |
$ 25,309,800 |
$ 19,901,202 |
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Net Income |
$ 1,951,718 |
$ 2,710,549 |
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Working Capital |
$ 10,409,373 |
$ 5,636,579 |
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Total Assets |
$ 24,780,031 |
$ 20,206,718 |
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Long Term Debt |
$ 1,658,900 |
$ 1,514,911 |
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Shareholder's Equity |
$ 14,757,584 |
$ 9,916,293 |
Press Release Links
September 13, 2004
Bexil Corporation Announces Conference Call
August 13, 2004
Bexil Corporation Announces Financial Results for the Second Quarter Ended June 30, 2004
May 17, 2004
Bexil Corporation Announces Financial Results for the First Quarter 2004
March 1, 2004
Bexil Corporation Omits First Quarter Dividend
January 6, 2004
Bexil Corporation Announces Deregistration
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