TerreStar Networks posts $26.73 million July net loss; revenues fall

By Caroline Salls

Pittsburgh, Aug. 19 - TerreStar Networks Inc. said it had a $26.73 million net loss for July on $98,137 of revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed a decline from the $26.61 million net loss posted for June on $109,689 of revenues.

The company had $7.1 million of cash and cash equivalents at July 31, up from $2.98 million at the end of June.

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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