Ambac Financial Group Inc (AMBC)

[Kurupt]

NEW YORK--(BUSINESS WIRE)--Nov. 14, 2012-- Ambac Financial Group, Inc. (“Ambac”) today announced a third quarter 2012 net profit of $157.5 million, or a net profit of $0.52 per share. This compares to a third quarter 2011 net loss of $75.5 million, or a net loss of $0.25 per share. Relative to third quarter 2011, third quarter 2012 results were primarily driven by lower derivative product losses, a positive net change in the fair value of credit derivatives, a lower provision for income taxes, and lower operating and interest expenses, partially offset by lower income on variable interest entities (“VIE”) and higher loss and loss expenses.


Would like to trade at half fair market value for starters!