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Tower Automotive records $9.4 million January operating loss
By Caroline Salls
Pittsburgh, Feb. 28 - Tower Automotive, Inc. reported a $9.4 million operating loss for January on revenues of $81.75 million, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.
In December, the company posted a $7.62 million operating loss on revenues of $98.64 million.
The January net loss was $18.95 million, widening from a $17.64 million December net loss.
Cash and cash equivalents on Jan. 31 were $1.25 million, compared with $5.71 million at the end of December.
The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005. Its Chapter 11 case number is 05-10578.
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