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Propex posts $800,000 EBITDA for four weeks ended March 30
By Jennifer Lanning Drey
Portland, Ore., May 1 - Propex Inc. reported EBITDA of $800,000 on net revenue of $47.3 million for the four weeks ended March 30, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Tennessee.
The company reported EBITDA of $1.8 million on net revenue of $44.6 million for the prior four-week period.
The net loss for the period ended March 30 was $5.7 million, compared with a $100,000 net loss in the prior period.
The company had cash and cash equivalents of $25.7 million at March 30, down from $31.4 million at March 2.
Propex is a Chattanooga, Tenn., producer of primary and secondary carpet backing. It filed for bankruptcy on Jan. 18, and its Chapter 11 case number is 08-10249.
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