GREENWICH, Conn., March 27 /PRNewswire-FirstCall/ -- AmBase Corporation (OTC Bulletin Board: ABCP) (the 'Company') announced today a net loss of $4,431,000 or $0.10 per share for the full year ended December 31, 2008.
For the full year ended December 31, 2007, the Company recorded a net loss of $3,936,000 or $0.09 per share.
A more complete discussion of the Company's affairs is included in AmBase Corporation's Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission.
The Company also announced that it has fixed the close of business on Thursday, April 16, 2009 as the record date for the upcoming 2009 Annual Meeting of Stockholders of AmBase Corporation, which will be held at 9:00 A.M. Eastern Daylight Time on Thursday, June 4, 2009 at the Hyatt Regency Hotel, 1800 East Putnam Avenue, Greenwich, Connecticut.
AmBase Corporation
Summary Results
(in thousands, except per share data)
Twelve Months
2008 2007
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Revenue $- $-
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Operating expenses 5,191 5,501
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Operating loss (5,191) (5,501)
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Interest income 353 1,305
Realized gains on sales
of investment securities - 310
Other income 247 -
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Loss before income taxes (4,591) (3,886)
Income tax benefit
(expense) 160 (50)
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Net loss $(4,431) $(3,936)
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Net loss per common share:
Basic $(0.10) $(0.09)
Assuming dilution $(0.10) $(0.09)
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Weighted average common
shares outstanding:
Basic 43,571 44,691
Assuming dilution 43,571 44,691
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SOURCE AmBase Corporation
