RESTON, Va., March 26, 2013 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc. (Nasdaq:CHCI) ("Comstock" or the "Company"), a home building and multi-faceted real estate development and services company in the Washington, D.C. metropolitan area, announced a net loss for its fourth quarter ended December 31, 2012 of ($2.0) million or ($0.10) per basic and diluted share on total revenue of $2.6 million as compared to a net loss for its fourth quarter ended December 31, 2011 of ($2.7) million or ($0.14) per basic and diluted share on total revenue of $6.1 million. For the year ended December 31, 2012, the Company reported a net loss of ($5.7) million or ($0.28) per basic and diluted share on total revenue of $14.3 million as compared to a net income of $1.1 million or $0.05 per basic and diluted share on total revenue of $21.9 million for year ended December 31, 2011. The 2012 results include impairment charges of $2.4 million on the Company's one remaining legacy project, the Eclipse, while results for 2011 include a one-time gain on legal settlement of $9.4 million. During 2012, the Company also reported a gain of $6.5 million within net income from discontinued operations as a result of the $19.35 million sale of the Cascades apartment project in the first quarter.
Comstock Holding Companies, Inc. Reports Results For Four And Twelve Months Ended December 31, 2012
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