GREENWICH, Conn., Nov. 12 /PRNewswire-FirstCall/ -- AmBase Corporation
(OTC Bulletin Board: ABCP) (the 'Company') announced today a net loss of
$628,000 or $0.01 per share and $4,066,000 or $0.09 per share for the third
quarter and nine months ended September 30, 2008, respectively.
For the third quarter and nine months ended September 30, 2007, the
Company recorded a net loss of $588,000 or $0.01 per share and $3,336,000 or
$0.07 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 September
30, 2008, filed with the Securities and Exchange Commission.
AmBase Corporation
Summary Results
(in thousands, except per share data)
Third Quarter Nine Months
2008 2007 2008 2007
Revenue $- $- $- $-
Operating expenses 699 858 4,631 4,699
Operating loss (699) (858) (4,631) (4,699)
Interest income 71 244 318 1,103
Realized gains on sale of
investment securities - 26 - 310
Other income - - 247 -
Loss before income taxes (628) (588) (4,066) (3,286)
Income tax expense - - - (50)
Net loss $(628) $(588) $(4,066) $(3,336)
Net loss per common share:
Basic $(0.01) $(0.01) $(0.09) $(0.07)
Assuming dilution $(0.01) $(0.01) $(0.09) $(0.07)
Weighted average common shares
outstanding:
Basic 43,566 44,703 43,635 44,845
Assuming dilution 43,566 44,703 43,635 44,845
SOURCE AmBase Corporation
