Movie Gallery reports $59.23 million operating loss for June period

By Caroline Salls

Pittsburgh, July 29 - Movie Gallery, Inc. reported a $59.23 million operating loss for the period of June 7 to July 4 on $44.38 million in revenues, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The company posted a $61.88 million operating loss for the period of May 10 to June 6 on $57.21 million in revenues.

The net loss for the latest period was $46.43 million, narrowing from a $100.22 million net loss for the previous period.

Movie Gallery had $96.22 million in cash and cash equivalents at July 4, down from $117.17 million at June 6.

Movie Gallery, a Wilsonville, Ore.-based video and game rental company, filed for bankruptcy on Feb. 2. Its Chapter 11 case number is 10-30696.

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