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Torch Offshore posts $2.55 million April operating loss
By Caroline Salls
Pittsburgh, May 25 - Torch Offshore, Inc. reported a $2.55 million operating loss for April on sales of $1.63 million, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Louisiana.
The operating loss for March was $2.23 million on sales of $1.13 million.
The net loss for April was $3.48 million, down from $4.57 million in March.
Total cash at the end of April was $58,700 million compared to $152,000 at the end of March.
Torch filed for bankruptcy protection on Jan. 7. The New Orleans-based offshore pipeline installation and subsea construction company's Chapter 11 case number is 05-10137.
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