Speedcast International reports $16.91 million net loss for January

By Sarah Lizee

Olympia, Wash., March 9 – Speedcast International Ltd. reported a $16.91 million net loss on $28.8 million of revenue for the January period, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, the company posted a $23.31 million net loss on $30.28 million of revenue for the December period.

The company had $88.25 million of cash and cash equivalents as of Jan. 31, compared to $74.96 million at the end of December.

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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