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Published on 7/31/2009 in the Prospect News Distressed Debt Daily.

AbitibiBowater's operating loss rises to $51.53 million in June

By Jennifer Lanning Drey

Portland, Ore., July 31 - AbitibiBowater, Inc. reported a $51.53 million operating loss for June on $301.14 million in net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The figures compared to a $1.47 million operating loss for the period of April 16 to May 31 on $493.19 million in net sales.

The net loss for June was $80.50 million, versus a net loss of $62.61 million for the prior period.

The company had cash and cash equivalents of $345.23 million at June 30, compared with $336.73 million at May 31.

AbitibiBowater, a Montreal-based producer of newsprint, commercial printing papers, market pulp and wood products, filed for bankruptcy on April 16 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-11296.


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