Advanta net loss widens to $4.73 million in June; income holds steady

By Caroline Salls

Pittsburgh, July 28 - Advanta Corp. posted a $4.73 million net loss for June on $4,000 in net interest income, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, the company posted a $2.27 million net loss for May, also on $4,000 in net interest income.

The company had $28.03 million in cash at June 30, down from $28.88 million at the end of May.

Spring House, Pa.-based Advanta provides credit cards to small businesses through Advanta Bank Corp. The company filed for bankruptcy on Nov. 8, 2009. Its Chapter 11 case number is 09-13931.

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