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LightSquared reports $55.71 million December net loss; revenue up
By Lisa Kerner
Charlotte, N.C., Jan. 15 - LightSquared Inc. posted a net loss of $55.71 million for December on $1.54 million in revenue, according to its monthly operating report filed Jan. 15 with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, LightSquared reported a $55.09 million net loss for November on $1.41 million in revenue.
The company also reported cash and cash equivalents of $33.22 million as of Dec. 31, down from $47.44 million at the end of November.
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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