GREENWICH, Conn., July 28 /PRNewswire-FirstCall/ -- AmBase Corporation
(OTC Bulletin Board: ABCP)(the 'Company') announced today a net loss of
$1,120,000 or $0.03 per share and $3,438,000 or $0.08 per share for the second
quarter and six months ended June 30, 2008, respectively.
For the second quarter and six months ended June 30, 2007, the Company
recorded a net loss of $1,655,000 or $0.03 per share and $2,748,000 or $0.06
per share respectively.
A more complete discussion of the Company's affairs is included in AmBase
Corporation's Quarterly Report on Form 10-Q for the quarterly period June 30,
2008, filed with the Securities and Exchange Commission.
AmBase Corporation
Summary Results
(in thousands, except per share data)
Second Quarter Six Months
2008 2007 2008 2007
Revenue $ - $ - $ - $ -
Operating expenses 1,461 2,152 3,932 3,841
Operating loss (1,461) (2,152) (3,932) (3,841)
Interest income 94 394 247 859
Realized gains on sales of
investment securities - 128 - 284
Other income 247 - 247 -
Loss before income taxes (1,120) (1,630) (3,438) (2,698)
Income tax expense - (25) - (50)
Net loss $(1,120) $(1,655) $(3,438) $(2,748)
Net loss per common share:
Basic $(0.03) $(0.03) $(0.08) $(0.06)
Assuming dilution $(0.03) $(0.03) $(0.08) $(0.06)
Weighted average common shares
outstanding:
Basic 43,610 44,864 43,669 44,916
Assuming dilution 43,610 44,864 43,669 44,916
SOURCE AmBase Corporation
