AmBase Reports Full Year Results

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Mar 28, 2012, 03:28 ET

GREENWICH, Conn., March 28, 2012 /PRNewswire/ -- AmBase Corporation (the "Company") announced today a net loss of $1,893,000 or $0.04 per share for the full year ended December 31, 2011.

For the full year ended December 31, 2010, the Company recorded a net loss of $1,960,000 or $0.04 per share.

A more complete discussion of the Company's affairs is included in AmBase Corporation's Annual Report on 10-K for the year ended December 31, 2011, filed with the Securities and Exchange Commission.

The Company also announced that it has fixed the close of business on Wednesday, April 18, 2012, as the record date for the upcoming 2012 Annual Meeting of Stockholders of AmBase Corporation, which will be held at 9:00 AM Eastern Daylight Time on Thursday, June 7, 2012 at the Hyatt Regency Hotel, 1800 East Putnam Avenue, Greenwich, Connecticut.

AmBase Corporation
Summary Results
*(in thousands, except per share data)*


	Twelve Months
	2011	2010
Operating expenses	$ 1,985	$ 1,955
Operating loss	(1,985)	(1,955)
Interest income	9	22
Realized gains on sales of investment securities	19	31
Unrealized losses on trading securities	(12)	-
Other income	124	-
Loss before income taxes	(1,845)	(1,902)
Income tax expense	48	58
Net loss	$ (1,893)	$ (1,960)

Net loss per common share - basic	$ (0.04)	$ (0.04)
Net loss per common share - assuming dilution	$ (0.04)	$ (0.04)

Weighted average common shares outstanding - basic	43,075	43,075
Weighted average common shares outstanding - assuming dilution	43,075	43,075