Contact Information: Contact: Thomas O'Malley Chief Financial Officer 1-212-785-9300, ext. 267
Tuxis Corporation Announces Third Quarter 2009 Financial Results
| Source: Tuxis Corporation
NEW YORK, NY--(Marketwire - December 10, 2009) - Tuxis Corporation (PINKSHEETS : TUXS ) today
reported its financial results for the third quarter ended September 30,
2009.
Tuxis recorded a net loss of $119,549 or $0.12 per share for the three
months ended September 30, 2009 compared to a net loss of $112,297 or $0.11
per share for the three months ended September 30, 2008. For the nine
months ended September 30, 2009, Tuxis recorded a net loss of $227,517 or
$0.23 per share compared to a net loss of $361,639 or $0.37 per share for
the nine months ended September 30, 2008.
Tuxis had an adjusted EBITDA loss of $73,351 and $142,362 for the three and
nine months ended September 30, 2009, respectively.
The Company's unaudited consolidated balance sheet, statements of income,
and statements of cash flows as of and for the third quarter and nine
months ended September 30, 2009, including a reconciliation of net loss to
adjusted EBITDA, are appended to the copy of this press release on
www.tuxis.com.
Tuxis Corporation is engaged through subsidiaries in real estate
development and self storage. Tuxis Self Storage at Heritage
Park, located in Clinton, Connecticut, is a 185 unit self storage
facility which offers a mix of standard and climate control units. Tuxis Self Storage at Millbrook
Commons, in Millbrook, New York, is a mixed use facility consisting of
118 climate control self storage units complemented by office/retail space.
To learn more about our self storage facilities, please visit
www.tuxisselfstorage.com. To learn more about Tuxis Corporation, including
Rule 15c2-11 information, please visit www.tuxis.com.
This release contains certain "forward looking statements" made pursuant to
the "safe harbor" provisions of 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
Tuxis Corporation, which may cause the Company's actual results to be
materially different from those expressed or implied by such statements.
The 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 adjusted EBITDA, a non-GAAP financial measure, as a
complement to results in accordance with accounting principles generally
accepted in the United States of America ("GAAP"). The term "adjusted
EBITDA" is a financial measure that the Company defines as net income
(loss) before dividend and interest income, income taxes, depreciation, and
share-based compensation. Adjusted EBITDA is not a substitute for measures
determined in accordance with GAAP and may not be comparable to adjusted
EBITDA as reported by other companies.