NEW YORK, NY -- (Marketwire) -- 12/10/09 -- 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.
Chief Financial Officer
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