PMI Group posts improved $950,616 net loss for May on zero revenue

By Caroline Salls

Pittsburgh, June 21 - PMI Group, Inc. posted a net loss of $950,616 for May on zero revenue, according to its monthly operating report filed Friday with the Securities and Exchange Commission.

Those figures compare to a $1.37 million net loss reported for April, also on zero revenue.

The company also reported cash on hand of $194.74 million as of May 31, down from $195.37 million at the end of April.

PMI is a Walnut Creek, Calif.-based provider of residential mortgage insurance and credit enhancement products. The company filed for bankruptcy on Nov. 23, 2011 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 case number 11-13730.

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