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TerreStar Networks reports net loss of $25.48 million for April
New York, May 20 - TerreStar Networks Inc. said it had a $25.48 million net loss for April on $73,175 of revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.
In comparison, TerreStar posted a $28.29 million net loss for March on $62,063 of revenues.
The company had $6.06 million of cash and cash equivalents at April 30, up from $4.15 million at the end of March.
Based in Reston, Va., TerreStar is a holding company with subsidiaries that operate satellite-based digital mobile communications systems. The company filed for bankruptcy on Oct. 19, 2010. The Chapter 11 case number is 10-15446.
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