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LBI Media sees $59,000 net loss for month ended Feb. 28; net sales up
By Caroline Salls
Pittsburgh, April 3 – LBI Media, Inc. reported a $59,000 operating loss for February on $8.76 million in net sales, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, LBI posted $485,000 of operating income for January on $8.31 million in net sales.
The net loss for February was $8.28 million, widening from a $5.67 million February net loss.
The company had $4.19 million in cash and cash equivalents as of Feb. 28, the same as at the end of January.
LBI Media is a Burbank, Calif., owner and operator of Spanish-language radio and television stations. The company filed bankruptcy on Nov. 21, 2018 under Chapter 11 case number 18-12655.
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