Tuxis Corp., which operates self-storage facilities in Connecticut and New York, reported its financial results for the third quarter ended Sept. 30. The company recorded a net loss of $12,538, or $0.01 per share, for the quarter, compared to a net loss of $1,183, or $0.00 per share, during the same period in 2013.
Tuxis recorded a net loss of $73,001, or $0.06 per share, for the nine months ended Sept. 30, compared to a net loss of $78,067, or $0.07 per share, for the same period in 2013. Revenue from rental income was $362,978 for the first nine months of the year, which is slightly higher than the $357,708 the company reported during the same period in 2013.
The company had an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $30,028 for the first three quarters, compared to $17,132 during the same period in 2013. Its book value per share at Sept. 30 was $5.30 (shareholders' equity of $6,030,327 divided by 1,138,777 shares issued and outstanding). Its unaudited balance sheet, statements of income and statements of cash flows for the first three quarters included a reconciliation of net loss to adjusted EBITDA, which is available on its website.
The company’s primary source of revenue is unit rentals at its two Tuxis Self Storage facilities. Its location at Heritage Park in Clinton, Conn., is comprised of 184 units. The Millbrook Commons in Millbrook, N.Y., location is a mixed-use facility comprised of 141 climate-controlled units, wine storage and office/retail space.