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A123 Systems reports $6.98 million operating loss for October period
By Caroline Salls
Pittsburgh, Dec. 6 - A123 Systems, Inc. reported a $6.98 million operating loss for the period of Oct. 16 through Oct. 31 on $604,000 in total revenue, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.
The net loss for the period was $8.58 million.
In addition, A123 had $30.47 million in cash at Oct. 31, up from $18.14 million as of Oct. 15.
Based in Waltham, Mass., A123 designs, develops, manufactures and sells rechargeable lithium-ion batteries and battery systems. The company filed for bankruptcy on Oct. 16 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 case number 12-12859.
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