AmBase Reports Second Quarter And Six Months Results

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Aug 09, 2012, 03:12 ET

GREENWICH, Conn., Aug. 9, 2012 /PRNewswire/ -- AmBase Corporation (the "Company") (OTC Bulletin Board: ABCP) announced today a net loss of $482,000

or $0.01 per share and $978,000 or $0.02 per share for the second quarter and six months ended June 30, 2012, respectively.

For the second quarter and six months ended June 30, 2011, the Company recorded a net loss of $383,000 or $0.01 per share and $850,000 or $0.02 per share respectively.

A more complete discussion of the Company's affairs is included in AmBase Corporation's Quarterly Report on 10-Q for the quarterly period June 30, 2012, filed with the Securities and Exchange Commission.

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


	Second Quarter		Six Months
	2012	2011	2012	2011
Operating expenses	$ 479	$ 484	$ 996	$ 945
Operating loss	(479)	(484)	(996)	(945)
Interest income	1	2	4	5
Realized gains on sales of investment securities	9	9	25	15
Unrealized losses on trading securities	(6)	-	(6)	-
Other income	4	105	17	105
Loss before income taxes	(471)	(368)	(956)	(820)
Income tax expense	11	15	22	30
Net loss	$ (482)	$ (383)	$ (978)	$ (850)

Net loss per common share - basic	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)
Net loss per common share - assuming dilution	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)

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