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Daxor Corp Reports Operating Results (10-Q)

August 13, 2010 | About:
10qk

10qk

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Daxor Corp (DXR) filed Quarterly Report for the period ended 2010-06-30.

Daxor Corp has a market cap of $41.4 million; its shares were traded at around $9.7501 with a P/E ratio of 5.7 and P/S ratio of 24.5. The dividend yield of Daxor Corp stocks is 4.1%. Daxor Corp had an annual average earning growth of 8.2% over the past 5 years.DXR is in the portfolios of Jim Simons of Renaissance Technologies LLC.
This is the annual revenues and earnings per share of DXR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of DXR.


Highlight of Business Operations:

For the three months ended June 30, 2010, consolidated operating revenues decreased to $368,332 from $380,420 for the same period in 2009, a decrease of $12,088 or 3.18%. This was mainly due to a decrease in revenue from Blood volume kit sales of $14,511 or 5.69% from $254,814 to $240,303. The number of kits sold decreased by 13.98% from 880 to 757 during the current period.

The total consolidated operating expenses for the second quarter of 2010 were $1,707,991 versus $1,524,440 in 2009 for an increase of $183,551 or 12.04%. The main reasons for this were increases in Research and Development costs of $81,064 and $131,803 in Professional Fees.

Dynegy s liquidity improved from $1.9 billion at December 31, 2009 to $2.0 billion at June 30, 2010. The liquidity at June 30, 2010 consisted of $500 million in cash on hand and marketable securities and $1.5 billion in unused availability under the company s credit facility. Dynegy s current ratio improved from $191 million at December 31, 2009 to $796 million at June 30, 2010.

At June 30, 2010, Daxor owned 309,407 shares of Citigroup with a cost basis of $6.05 per share and a market value of $3.76 per share. On August 10, 2010, the market value of Citigroup was $4.00 per share which is $2.05 or 34% less than our cost basis of $6.05 per share.

Gains on the sale of investments were $5,815,777 for the three months ended June 30, 2010 versus $327,410 for the same period in 2009 for an increase of $5,488,367. For the current quarter, the Company had a loss from the marking to the market of short positions of stocks and put and call options of ($4,644,235) versus a gain of $7,095,451 for the same period in 2009. Interest expense net of interest income was $8,919 for the three months ended June 30, 2010 versus $59,828 for the three months ended June 30, 2009. Administrative expenses relating to portfolio investments were $31,043 in 2010 versus $ 31,414 for the same period in 2009.

For the six months ended June 30, 2010, consolidated operating revenues decreased to $764,604 from $814,457 for the same period in 2009, a decrease of $49,853 or 6.12%. This was mainly due to a decrease in revenue from Blood volume kit sales of $51,354 or 9.10% from $564,266 to $512,912. The number of kits sold decreased by 12.43% from 1,851 to 1,621 during the current period.

Read the The complete Report

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