Speedcast International reports $17.37 million net loss for August

By Sarah Lizee

Olympia, Wash., Oct. 20 – Speedcast International Ltd. reported a $17.37 million net loss on $32.69 million of revenue for the August period, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, the company posted a $4.72 million net loss on $31.05 million of revenue for the July period.

The company had $56.31 million of cash and cash equivalents as of Aug. 31, compared to $69.72 million at the end of July.

Speedcast is a Sydney, Australia-based provider of remote communication and IT solutions. The company filed bankruptcy on April 23, 2020 under Chapter 11 case number 20-32243.

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