Business & Finance
Business and Finance
Business and Finance
Thu, May 10, 2012 
AmBase Reports First Quarter Results -- GREENWICH, Conn., May 10, 2012 /PRNewswire/ --
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
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