Advanta net loss shrinks to $5.98 million in April; income drops

By Caroline Salls

Pittsburgh, May 26 - Advanta Corp. posted a $5.98 million net loss for April on $3,000 in net interest income, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

In comparison, the company posted a $70.21 million net loss for March on $9,000 in interest income.

The company had $30.16 million in cash at April 30, up from $29.75 million at the end of March.

Spring House, Pa.-based Advanta provides credit cards to small businesses through Advanta Bank Corp. The company filed for bankruptcy on Nov. 8 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-13931.

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