A123 Systems operating loss increases to $14.97 million in November

By Jim Witters

Wilmington, Del., Jan. 3 - A123 Systems, Inc. posted an operating loss of $14.97 million in November on $9.3 million in total revenue, according to the company's monthly operating report filed Jan. 2 with the U.S. Bankruptcy Court for the District of Delaware.

Those figures compare to a $6.98 million operating loss in October on total revenue of $604,000.

The net loss for November was $18.5 million.

The company also reported cash on hand of $60.79 million as of Nov. 30, up from $30.47 million at the end of October.

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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