LightSquared net loss jumps in August to $81 million, revenue steady

By Kali Hays

New York, Sept. 15 – LightSquared, Inc. reported a net loss of $81.45 million for August on $1.69 million in revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

Those numbers compare to a net loss of $51.44 million in July on $1.65 million in revenue.

The company had cash and cash equivalents of $17.78 million as of Aug. 31, up from $15.86 million at the end of July.

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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