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LightSquared shows increased net loss of $65.64 million in February
By Kali Hays
New York, March 16 – LightSquared Inc. reported a net loss of $65.64 million in February on revenue of $1.17 million, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.
In January LightSquared had a net loss of $62.13 million and revenue of $1.32 million.
The company also reported cash and cash equivalents of $120.53 million as of Feb. 28, dropping from $150.09 million at the end of January.
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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