AmBase Reports First Quarter Results

GREENWICH, Conn., May 10, 2012 /PRNewswire/ -- AmBase Corporation (the "Company") (OTC Bulletin Board: ABCP) announced today a net loss of $496,000 or $0.01 per share for the three months ended March 31, 2012.

For the three months ended March 31, 2011, the Company recorded a net loss of $467,000 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, 2012, filed with the Securities and Exchange Commission.


AmBase Corporation


Summary Results


(in thousands, except per share data)





















Three Months






2012


2011

Operating expenses





$           517


$           461

Operating loss





(517)


(461)

Interest income





3


3

Realized gains on sales of investment securities





16


6

Unrealized losses on trading securities





-


-

Other income





13


-

Loss before income taxes





(485)


(452)

Income tax expense





11


15

Net loss





$         (496)


$         (467)









Net loss per common share - basic





$        (0.01)


$        (0.01)

Net loss per common share - assuming dilution





$        (0.01)


$        (0.01)









Weighted average common shares outstanding - basic





43,075


43,075

Weighted average common shares outstanding - assuming dilution





43,075


43,075

















  

  

SOURCE AmBase Corporation



More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.