Metro Fuel marks negative $98,330 in June EBITDA, no petroleum sales

By Caroline Salls

Pittsburgh, July 22 - Metro Fuel Oil Corp. posted negative $98,330 in EBITDA for June on zero net petroleum sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of New York.

Those figures compared to $11,530 in EBITDA reported for May, also on zero net petroleum sales.

Net income for June was $89,927, improving from $11,530 in net income for May.

The company also reported $17.66 million in cash and money market funds as of June 30, down slightly from $17.67 million at the end of May.

Metro Fuel is a Brooklyn, N.Y.-based energy company that supplies bioheat, biodiesel, heating oil, central air conditioning units, ultra low sulfur diesel fuel, natural gas and gasoline throughout the New York City metropolitan area and Long Island. The company filed for bankruptcy on Sept. 27, 2012 under Chapter 11 case number 12-46913.

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