AmBase Reports Second Quarter And Six Months Results

GREENWICH, Conn., Aug. 9, 2012 /PRNewswire/ -- AmBase Corporation (the "Company") (OTC Bulletin Board: ABCP) announced today a net loss of $482,000

or $0.01 per share and $978,000 or $0.02 per share for the second quarter and six months ended June 30, 2012, respectively.

For the second quarter and six months ended June 30, 2011, the Company recorded a net loss of $383,000 or $0.01 per share and $850,000 or $0.02 per share respectively.

A more complete discussion of the Company's affairs is included in AmBase Corporation's Quarterly Report on 10-Q for the quarterly period June 30, 2012, filed with the Securities and Exchange Commission.

 

AmBase Corporation
Summary Results
(in thousands, except per share data)
					Second Quarter		Six Months
					2012	2011	2012	2011
Operating expenses					$                 479	$            484	$                996	$             945
Operating loss					(479)	(484)	(996)	(945)
Interest income					1	2	4	5
Realized gains on sales of investment securities					9	9	25	15
Unrealized losses on trading securities					(6)	-	(6)	-
Other income					4	105	17	105
Loss before income taxes					(471)	(368)	(956)	(820)
Income tax expense					11	15	22	30
Net loss					$               (482)	$          (383)	$               (978)	$            (850)
Net loss per common share - basic					$              (0.01)	$         (0.01)	$              (0.02)	$           (0.02)
Net loss per common share - assuming dilution					$              (0.01)	$         (0.01)	$              (0.02)	$           (0.02)
Weighted average common shares outstanding - basic					43,075	43,075	43,075	43,075
Weighted average common shares outstanding - assuming dilution					43,075	43,075	43,075	43,075

 

SOURCE AmBase Corporation