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Intermet reports $5.7 million net loss in February
By Ted A. Knutson
Washington, March 28 - Intermet Corp. posted a $5.7 million net loss for February, an increase from January's net loss of $3.5 million, according to monthly operating results filed with the U.S. Bankruptcy Court for the Eastern District of Michigan.
That additional $2.2 million of red ink also showed up in operating results. The Troy, Mich.-based metals company ended February with an operating loss of $1.8 million in contrast to an operating profit of $950,000 in January.
Revenues in the 28-day month were $55.7 million against $59.6 million for the 31 days of January.
Cash on Feb. 28 was $2.7 million compared to $3.85 million on Jan. 31.
Intermet filed for bankruptcy on Sept. 29, 2004. Its Chapter 11 case number is 04-67597.
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