NEW YORK, NY -- (MARKET WIRE) -- 05/19/08 -- Tuxis Corporation (PINKSHEETS: TUXS) today reported its financial results for year ended December 31, 2007.
Tuxis recorded a net loss of $526,276 or $0.53 per share for the year ended December 31, 2007 compared to a net loss of $679,710 or $0.69 per share for the year ended December 31, 2006. Total rental revenues increased $72,064 or 146% and total expenses decreased $129,270 or 14% in 2007 compared to the same period in 2006. The Company attributes the increase in total rental revenue to the addition of Tuxis Self Storage revenues for the last seven months of 2007. The Company attributes the decrease in total expenses to no longer having to bear both the direct and indirect expenses associated with being listed on the American Stock Exchange and have to prepare and file periodic reports with the Securities and Exchange Commission.
The Company's 2007 Annual Report, including audited financial statements, is posted at www.tuxis.com.
Tuxis Corporation is engaged through subsidiaries in real estate development and self storage. The Company operates Tuxis Self Storage, Clinton, Connecticut, a 177 unit facility which offers a mix of standard and climate control units. To learn more about our self storage facility 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.
Chief Financial Officer
1-212-785-9300, ext. 267