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LightSquared net loss shrinks to $52.32 million in August; sales grow
By Caroline Salls
Pittsburgh, Sept. 14 - LightSquared Inc. reported a $52.32 million net loss for August on $3.34 million in revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures showed improvement from the $52.7 million net loss posted for July on $3.1 million in revenues.
The company had $217.26 million in cash and cash equivalents at Aug. 31, down from $224.31 million at the end of July.
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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