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Winmill & Co. Incorporated Announces First Quarter 2006 Financial Results.

NEW YORK -- Winmill & Co. Incorporated (WNMLA) announced today its financial results for the first quarter ended March 31, 2006. The Company reported a net loss of $407,048 for the quarter ended March 31, 2006 versus a net loss of $240,373 in 2005, or a loss of $0.25 per share fully diluted versus a loss of $0.16 per share fully diluted in the prior period. In the first quarter of 2006 as well as in 2005, the net decrease in unrealized appreciation of the shares owned by the Company of its publicly held affiliates, namely Bexil Corporation (BXL) and Tuxis Corporation (TUX), contributed the bulk of the reported losses. Management, distribution and other fees increased due to an increase in mutual fund assets under management of approximately $50 million to $175 million at the end of the first quarter. Expenses increased modestly as the Company recognized compensation expense for unvested stock options due to the adoption of Statement of Financial Accounting Standards No. 123(R) "Share-Based Payment" as of January 1, 2006. The Company also reported that its financial condition continues to be strong, with shareholders' equity of approximately $10.1 million and no long term debt. A copy of the Company's unaudited balance sheet, statements of income, and statements of cash flows as of and for the first quarter ending March 31, 2006 is posted at www.winmillco.com.

The Company's 2005 Annual Report, including audited financial statements, is posted at www.winmillco.com.

Winmill & Co. Incorporated is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds. The open-end mutual funds managed by a Company subsidiary are Midas Fund, Inc. (MIDSX), Midas Special Fund, Inc. (MISEX), and Midas Dollar Reserves, Inc. (DOLXX), The closed-end funds are Foxby Corp. (FXX) and Global Income Fund, Inc. (GIF). To learn more about Winmill & Co., including Rule 15c2-11 information, please visit www.winmillco.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 Winmill & Co., 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.
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Publication:Business Wire
Date:Oct 3, 2006
Words:418
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