LightSquared net loss grows to $48.07 million in April, revenue lower

By Lisa Kerner

Charlotte, N.C., May 15 - LightSquared Inc. posted a net loss of $48.07 million for April on gross revenue of $2.55 million, according to the company's monthly operating report filed May 15 with the U.S. Bankruptcy Court for the Southern District of New York.

Those figures compare to a $47.53 million net loss in March on revenue of $3.25 million.

The company also reported cash and cash equivalents of $139.48 million as of April 30, up from $134.87 million at the end of March.

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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