Tower Automotive posts $5.82 million October operating loss

By Caroline Salls

Pittsburgh, Nov. 30 - Tower Automotive, Inc. reported a $5.82 million operating loss for October on revenues of $115.53 million, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

In September, the company posted a $13.34 million operating loss on revenues of $119.11 million.

The net loss for October was $17.73 million, a significant improvement from a $111.86 million September net loss.

Cash and cash equivalents on Oct. 31 were $470,000, compared with $34.49 million at the end of September.

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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