LSBC’s net loss on a GAAP basis was $4.9 million, or $0.16 per share, for the fourth quarter of 2004 compared to a GAAP net loss of $7.1 million, or $0.28 per share, for the fourth quarter of 2003. The net loss for 2003 included charges of $1.9 million for asset impairment and $0.3 million for severance benefits associated with the shutdown of the Germantown, Maryland, facility. Sequentially, the GAAP net loss for the third quarter of 2004 was $4.2 million, or $0.13 per share.
