Vertis operating income plunges to $2.03 million in August

By Caroline Salls

Pittsburgh, Oct. 1 - Vertis Holdings, Inc. reported $2.03 million in operating income for August on $103 million in revenues, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

The operating income dropped significantly from the $108.93 million operating income reported for July. In July, the company posted $105.17 million in revenues.

The net loss for August was $18.76 million, widening from a $15.87 million July net loss.

Vertis Holdings had $2.21 million in cash and cash equivalents at Aug. 31, compared to $559,000 at the end of July.

Vertis, a Baltimore-based print advertising and marketing solutions company, made a pre-packaged Chapter 11 filing on July 15 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 08-11460.

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