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Portrait Corp. of America reports $2.01 million operating income for Oct. 30 to Dec. 3
By Caroline Salls
Pittsburgh, Jan. 2 - Portrait Corp. of America, Inc. reported $2.01 million in operating income for the period of Oct. 30 to Dec. 3 on $30.73 million in sales, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures compare with a $1.28 million operating loss for the period of Oct. 2 to Oct. 29 on $19.12 million in sales.
The net loss for the latest period was $737,830, down from a $4.21 million net loss for the previous period.
Cash and cash equivalents on Dec. 3 were $14.94 million, compared with $2.96 million on Oct. 29.
Portrait Corp. of America, a Matthews, N.C.-based portrait studio operator, filed for bankruptcy on Aug. 31. Its Chapter 11 case number is 06-22541.
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