Highland Capital Management marks $51,000 of January operating income

By Caroline Salls

Pittsburgh, March 4 – Highland Capital Management, LP reported $51,000 of operating income for January on $2.52 million in total operating revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Texas.

In comparison, the company posted a $7.98 million operating loss for December on $3.43 million in total operating revenue.

Net income for January was $2.99 million, improving from a $70.98 million December net loss.

The December net loss included a $57.96 million reserve against notes receivable.

In addition, Highland listed $9.5 million of cash and cash equivalents as of Jan. 31, the same as at the end of December.

HCMLP is a Securities and Exchange Commission-registered investment adviser on Dallas-based Highland Capital Management’s global alternative investment platform. The company filed bankruptcy on Oct. 16 in the U.S. Bankruptcy Court for the District of Delaware. The case was later transferred to the Texas court under Chapter 11 case number 19-34054.

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