Delphi posts $505 million July operating loss

By Caroline Salls

Pittsburgh, Aug. 31 - Delphi Corp. reported a $505 million operating loss for July on $894 million in net sales, according to a Thursday filing with the Securities and Exchange Commission.

In June, the company posted a $1.85 billion operating loss on $1.63 billion in net sales.

The net loss for July was $534 million, improved from a $1.86 billion June net loss.

Cash and cash equivalents on July 31 were $933 million, up from $850 million the month before.

According to the filing, Delphi recorded about $184 million in U.S. employee special attrition program charges in July in connection with the pre-retirement and buyout portions of the cost of the special attrition programs for UAW and IUE-CWA-represented hourly employees who had elected to participate in the special attrition program as of July 31.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.

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