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PMI Group net loss grows to $1.37 million in April on zero revenue
By Jim Witters
Wilmington, Del., May 23 - PMI Group, Inc. posted a net loss of $1.37 million for April on zero revenue, according to the company's monthly operating report filed May 23 with the U.S. Bankruptcy Court for the District of Delaware.
Those figures compare to a $1.26 million net loss for March, also on zero revenue.
The company also reported cash on hand of $195.37 million as of April 30, down from $197.68 million at the end of March.
PMI is a Walnut Creek, Calif.-based provider of residential mortgage insurance and credit enhancement products. The company filed for bankruptcy on Nov. 23, 2011 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 case number 11-13730.
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