Patriot Coal posts $26.19 million operating loss for June; sales fall

By Caroline Salls

Pittsburgh, July 30 – Patriot Coal Corp. reported an operating loss of $26.19 million for June on $77.12 million in sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

In comparison, Patriot Coal posted a $25.21 million operating loss for May on sales of $85.44 million.

The net loss for June was $32.49 million, widening from a $29.27 million May net loss.

The company had $104.09 million in cash and cash equivalents as of June 30, up from $71.34 million at the end of May.

Patriot Coal, a Richmond, Va.-based miner, producer and seller of thermal coal, filed for bankruptcy on May 12. The Chapter 11 case number is 15-32450.

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