A123 operating loss grows to $34.05 million in December; revenue up

By Caroline Salls

Pittsburgh, Feb. 4 - A123 Systems, Inc. posted an operating loss of $34.05 million for December on $11.11 million in total revenue, according to its monthly operating report filed Feb. 4 with the U.S. Bankruptcy Court for the District of Delaware.

Those figures compare to a $14.97 million operating loss reported in November on $9.3 million in total revenue.

The net loss for December was $35.13 million, widening from an $18.5 million November net loss.

The company also reported cash on hand of $52.73 million as of Dec. 31, down from $60.79 million at the end of November.

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 under Chapter 11 case number 12-12859.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.