LightSquared net loss rises to $47.53 million in March, revenue higher

By Jim Witters

Wilmington, Del., April 15 - LightSquared Inc. posted a net loss of $47.53 million for March on gross revenue of $3.25 million, according to the company's monthly operating report filed April 15 with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures compare to a $46.88 million net loss in February on revenue of $2.69 million.

The company also reported cash and cash equivalents of $134.87 million as of March 31, down from $151.03 million at the end of February.

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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