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Ormet shows operating loss of $414,000 during October, zero revenue
By Kali Hays
New York, Nov. 20 – Ormet Corp. reported a $414,000 operating loss for October on zero revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, the company posted an operating loss of $421,000 for September, also on zero revenue.
Ormet’s net loss for October was $1.93 million, improving from $2 million in September.
The company also had $5.38 million in cash and cash equivalents as of Oct. 31, almost unchanged from $5.4 million at the end of September.
Ormet, a Hannibal, Ohio-based producer of aluminum, filed for bankruptcy on Feb. 26, 2013. The Chapter 11 case number is 13-10334.
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