LightSquared net loss narrows to $51.35 million; revenue up slightly

By Jim Witters

Wilmington, Del., Oct. 15 - LightSquared Inc. posted a net loss of $51.35 million for September on $3.59 million in revenue, according to the company's monthly operating report filed Oct. 15 with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures compare to a $52.32 million net loss in August on revenue of $3.34 million.

The company also reported cash and cash equivalents of $205.06 million as of Sept. 30, down from $217.26 million at the end of August.

LightSquared is a Reston, Va.-based wholesale-only 4G-LTE network integrated with satellite coverage. The company filed for bankruptcy on May 14. Its Chapter 11 case number is 12-12080.

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