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ILX Resorts reports $531,410 operating loss for quarter to March 31
By Jennifer Lanning Drey
Portland, Ore., May 15 - ILX Resorts Inc. posted a $531,410 operating loss for the three months ended March 31 on $7.69 million in total revenues, according to 10-Q filed Friday with the Securities and Exchange Commission.
The figures compared to a $401,993 operating loss in the same period of 2008 on total revenues of $10.42 million.
The net loss for the current-year period was $1.03 million, compared to a net loss of $632,847 in the comparable period of 2008.
ILX had cash and cash equivalents of $1.24 million at March 31, down from $2.15 million at Dec. 31.
Phoenix-based ILX Resorts acquires, develops and operates timeshare resorts primarily in the western United States. The company filed for bankruptcy on March 2 in the U.S. Bankruptcy Court for the District of Arizona. Its Chapter 11 case number is 09-03594.
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