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LightSquared loss falls to $46.88 million in February; revenue flat
By Jim Witters
Wilmington, Del., March 15 - LightSquared Inc. posted a net loss of $46.88 million for February on revenue of $2.69 million, according to the company's monthly operating report filed March 15 with the U.S. Bankruptcy Court for the Southern District of New York.
Those figures compare to a net loss of $49.09 million in January on revenue of $2.71 million.
The company also reported cash and cash equivalents of $151.03 million as of Feb. 28, down from $156.7 million at the end of January.
LightSquared is a Reston, Va.-based wholesale-only 4G-LTE network integrated with satellite coverage. The company filed for bankruptcy on May 14, 2012 under Chapter 11 case number 12-12080.
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