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Visteon operating loss declines to $83.36 million in May; sales down
By Caroline Salls
Pittsburgh, June 29 - Visteon Corp. reported an $83.36 million operating loss for May on $46.4 million in net sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
The figures showed a decline from the $53.75 million operating loss posted for April on $49.03 million in net sales.
The net loss for May was $87.34 million, widening from a $57.08 million April net loss.
The company had $144.65 million in cash and cash equivalents at May 31, down from $286.85 million at the end of April.
Visteon, a Van Buren Township, Mich., global automotive supplier, filed for bankruptcy on May 28, 2009. Its Chapter 11 case number is 09-11786.
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