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Metropolitan Mortgage posts $261,050 September operating loss before taxes
By Caroline Salls
Pittsburgh, Nov. 8 - Metropolitan Mortgage & Securities Co. Inc. reported a $261,050 operating loss before taxes on $841,245 in revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of Washington.
In August, the company posted $14.36 million in income before taxes on $15.89 million in revenues.
The net loss for September was $169,682, down from net income of $9.31 million in August.
Cash on Sept. 30 was $36.32 million, compared to $32.21 million at the end of August.
Spokane, Wash.-based Metropolitan filed for bankruptcy on Feb. 4, 2004. Its Chapter 11 case number is 04-00757.
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