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LightSquared sees net loss of $67.55 million in October, revenue up
By Kali Hays
New York, Nov. 14 – LightSquared Inc. reported a net loss of $67.55 million for October on $1.56 million in revenue, according to its monthly operating report filed Nov. 14 with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, LightSquared posted a net loss of $64.8 million in September on $1.53 million in revenue.
The company also had cash and cash equivalents of $30.45 million as of Oct. 31, down from $35.06 million at the end of September.
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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