NU Online News Service, May 17, 12:40 p.m. EDT
Troubled surety insurer Ambac Financial Group Inc. said it plans to release its first-quarter results tomorrow, after announcing last week it was delaying the release.
The New York-based company said it will release its first-quarter 2010 results on Tuesday, 8:00 a.m. EDT.
In a statement, however, the company noted its management will not host a conference call to discuss the results.
Last week the company filed notification with the Securities and Exchange Commission saying it was delaying the results report because of accounting difficulties. These were primarily caused by Wisconsin's insurance regulator, who placed the company's mortgage insurance business into possible run-off.
At that time, the company said it planned to report significant changes in its results for the first quarter compared to last year.
In an SEC filing, Ambac said it anticipates a first-quarter loss between $650 million and $750 million compared to a net loss of $392 million for the prior year.
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