Ambient Corporation announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the period, the company reported total revenue of $4,981,000 compared to $13,275,000 in the same period last year. Operating loss was $3,488,000 compared to $70,000 in the same period last year. Loss before taxes was $3,456,000 compared to $184,000 in the same period last year. Net loss was $3,456,000 or 0.21 per basic and diluted share compared to net loss of $184,000 or $0.01 per share in the same period last year. The decrease in total revenue year-over-year is attributable primarily to the near completion by the company's largest customer of its grid modernization project in Ohio.

Effective May 8, 2013, Mark Fidler resigned from the positions of Chief Financial Officer, Treasurer and Vice President of Ambient Corporation in order to pursue other opportunities. On May 8, 2013, the company appointed Stacey Fitzgerald as the company's Chief Financial Officer. Ms. Fitzgerald has been Controller of the company since July 9, 2012 and was primarily responsible for the management of all corporate accounting activities including the year-end financial statement audit, internal controls structure, SEC reporting, and the streamlining of various business and accounting processes. Prior to joining Ambient, from February to June 2012, Ms. Fitzgerald worked as an independent consultant at Accounting Management Solutions.

Ambient Corporation announced financial results for the year ended December 31, 2012. Total revenue for 2012 was approximately $42.8 million compared to approximately $62.1 million for the same period in 2011. The decrease in total revenue was the result of the company's customer's decision to modify its timelines for installation in the field. Net loss for the year ended December 31, 2012, was approximately $5.4 million, or $0.33 per share, compared to net income of approximately $10.1 million, or $0.59 per diluted share, for the same period in 2011.