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Tower Automotive reports operating loss of $2.98 million for August
By Ted A. Knutson
Washington, Sept. 30 - Tower Automotive Inc. showed a $2.98 million operating loss in August on revenues of $162.78 million, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.
The numbers compared to a $40.52 million July operating loss on revenues of $94.34 million.
The net loss for August was $3.06 million, improved from a $53.25 million July net loss.
Cash and cash equivalents were $1.25 million at Aug. 31, equal to the $1.25 million at the end of July.
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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