NEW YORK (AP) -- NEW YORK (AP) -- Ambac Financial Group Inc. (AMBC) on Tuesday reported a third-quarter loss of $28 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 63 cents. Losses, adjusted for one-time gains and costs, were 46 cents per share.

The bond insurer posted revenue of $114 million in the period.

Ambac shares have fallen 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.66, a fall of 20% in the last 12 months.

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