Commercial mortgage real estate investment trust Criimi Mae Inc. has reported its third quarter results, and depending on which type of accounting is used in disclosing the information, the company posted either a profit or a loss.

Using what is known as generally accepted accounting principles (GAAP), Criimi Mae posted net earnings for the three months ending Sept. 30 of $8.1 million, compared with a third quarter 1998 loss of $8.7 million. However, using tax-basis accounting, Criimi Mae had an approximate loss of $17.8 million for the 1999 third quarter, compared with $19.9 million net earnings during the same time period last year.

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