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LightSquared shows net loss growing again in March to $72.7 million
By Kali Hays
New York, April 15 – LightSquared Inc. posted a net loss of $72.7 million in March on revenue of $1.17 million, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.
In February, LightSquared reported a net loss of $65.64 million, also on revenue of $1.17 million.
The company also reported cash and cash equivalents of $116.33 million at March 31, down from $120.53 million at the end of February.
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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