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Lear posts $30.7 million net loss for August; sales $247.4 million
By Alice Popovici
New York, Sept. 29 - Lear Corp. reported a $30.7 million net loss on $247 million in net sales for the fiscal month of August 2009, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, the company's net loss for the previous period was $15.4 million on $185 million in net sales.
The company had $762.9 million in cash and cash equivalents at the end of the current period, up from $322 million at the end of the previous period.
Lear, a Southfield, Mich.-based automotive parts supplier, filed for bankruptcy on July 7. Its Chapter 11 case number is 09-14326.
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