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PMI Group posts $1.9 million net loss for August on zero revenue
By Jim Witters
Wilmington, Del., Sept. 25 - PMI Group, Inc. posted a net loss of $1.9 million for August on zero total revenue, according to the company's monthly operating report filed Sept. 25 with the U.S. Bankruptcy Court for the District of Delaware.
Those figures compare to a $1.12 million net loss for July, also on zero total revenue.
The company also reported cash on hand of $191.23 million as of Aug. 31, down from $192.75 million at the end of July.
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 under Chapter 11 case number 11-13730.
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