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LightSquared posts $61.74 million net loss for January; revenue flat
By Caroline Salls
Pittsburgh, Feb. 18 - LightSquared Inc. posted a net loss of $61.74 million for January on $1.54 million in revenue, according to its monthly operating report filed Feb. 14 with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, LightSquared reported a $55.71 million net loss for December, also on $1.54 million in revenue.
The company also reported cash and cash equivalents of $22.81 million as of Jan. 31, down from $33.22 million at the end of December.
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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