Daxor Corporation Announces Filing of Form N-CSR for December 31, 2012 and Volumex Kit Sales for 2012

NEW YORK, NY--(Marketwire - March 01, 2013) -

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Daxor Corporation, (NYSE MKT: DXR) an investment company with medical instrumentation and biotechnology operations, will be filing a Form N-CSR today disclosing its schedule of portfolio holdings as of December 31, 2012. Copies of the form will be mailed to the Company's shareholders and are available on the Company's website at http://www.daxor.com/pdfs/daxor-form-n-csr-12312012.pdf.

At December 31, 2012, the Company had net assets of $35,113,819 or $8.50 per share versus net assets of $35,327,185 or $8.41 per share at December 31, 2011. The Company's Return on Average Net Assets for the year was 1.05%.

Net assets resulting from investments increased by $1,186,968 during the year ended December 31, 2012. However, in total, net assets decreased during the year by $213,366. This was partially due to the purchase of 69,003 shares of treasury stock for $572,786 and total dividends paid of $833,386.

The Company paid a total dividend of $0.20 per share in 2012. The dividend was paid as follows: $0.10 per share on August 24th and December 27th.

The Company's investment policy is to maintain a minimum of 80% of its portfolio in electric utilities. At December 31, 2012, investments in electric utilities made up 83.9% of the value of the Company's portfolio. Dividends from the Company's investments in electric utilities made up 83.4% of the Company's total dividend income for the year ended December 31, 2012. The Company is receiving dividend income on 67 of the 80 common and preferred stocks in its investment portfolio at December 31, 2012.

The portfolio turnover rate for the year ended December 31, 2012 was 18.92% which indicates an average holding period in excess of five years for our investment portfolio. The investment approach of management is to buy stocks which it is prepared to hold for the long term. There are stocks in our portfolio which we have held in excess of 20 years.

At December 31, 2012, net fair value over cost of the Company's securities portfolio totaled $24,293,834. This was comprised of net fair value over cost of $26,003,472 and net cost over fair value of $(1,709,638).

The Company's results from investments for the year ended December 31, 2012 are disclosed in greater detail in the Form N-CSR which will be filed today.

For the year ended December 31, 2012, the Company's revenue from the sale of Volumex Kits decreased by 2% from the same period in 2011. There were 70 Blood Volume Analyzers in service at December 31, 2012 versus 58 instruments at December 31, 2011. There is additional disclosure regarding the Company's medical instrumentation and biotechnology operations in the Form N-CSR for December 31, 2012.

The Company sent sales representatives to promote the BVA-100 Blood Volume Analyzer to 20 medical trade shows and conventions during 2012. Trade shows and conventions are an important way for Daxor to publicize the benefits of the BVA-100.

Dr. Joseph Feldschuh, the President of Daxor, said: "We are somewhat disappointed that our Volumex kit sales did not increase in 2012. However, we are guardedly optimistic about sales for 2013 because of the increase in Blood Volume Analyzers in service and the additional salespeople that we have hired. We realize there are no guarantees but remain hopeful that members of the medical community will understand the need for measuring patients' blood volume precisely rather than using surrogate tests and clinical guesstimates which can be grossly inaccurate. The precise knowledge of a patient's blood volume is essential for optimally treating critically ill medical and surgical patients. Our goal is to make blood volume measurement a standard of care for any patient experiencing a blood volume derangement."