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LightSquared net loss narrows to $48.97 million in June; revenues up
By Caroline Salls
Pittsburgh, July 15 - LightSquared Inc. posted a net loss of $48.97 million for June on $2.62 million of revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
The figures showed improvement over the $55.47 million net loss reported for May on $2.56 million of revenues.
The company also reported cash and cash equivalents of $122.52 million as of June 30, down from $130.31 million at the end of May.
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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