Tower Automotive posts $6.7 million February operating loss

By Caroline Salls

Pittsburgh, March 30 - Tower Automotive, Inc. reported a $6.7 million operating loss for February on revenues of $87.58 million, according to its monthly operating report filed Friday with the Securities and Exchange Commission.

The figures showed improvement over a $9.4 million January operating loss on revenues of $81.75 million.

The February net loss was $14.75 million, down from an $18.95 million January net loss.

Cash and cash equivalents on Feb. 28 were $1.25 million, the same as at the end of January.

The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-10578.

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