AmBase Reports First Quarter Results
GREENWICH, Conn., May 9, 2011 /PRNewswire/ -- AmBase Corporation (OTC Bulletin Board: ABCP) (the "Company") announced today a net loss of $467,000 or $0.01 per share for the three months ended March 31, 2011.
For the three months ended March 31, 2010, the Company recorded a net loss of $545,000 or $0.01 per share.
A more complete discussion of the Company's affairs is included in AmBase Corporation's Quarterly Report on 10-Q for the quarterly period March 31, 2011, filed with the Securities and Exchange Commission.
AmBase Corporation Summary Results (in thousands, except per share data) | |||
Three Months | |||
2011 | 2010 | ||
Operating expenses | $ 461 | $ 549 | |
Operating loss | (461) | (549) | |
Interest income | 3 | 5 | |
Realized gains on sales of investment securities | 6 | 10 | |
Loss before income taxes | (452) | (534) | |
Income tax expense | (15) | (11) | |
Net loss | $ (467) | $ (545) | |
Net loss per common share: | |||
Basic | $ (0.01) | $ (0.01) | |
Assuming dilution | $ (0.01) | $ (0.01) | |
Weighted average common shares outstanding: | |||
Basic | 43,075 | 43,075 | |
Assuming dilution | 43,075 | 43,075 | |
SOURCE AmBase Corporation
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