AbitibiBowater operating loss shrinks to $10.91 million in March

By Caroline Salls

Pittsburgh, May 3 - AbitibiBowater, Inc. reported a $10.91 million operating loss for March on $366.06 million in net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The figures showed improvement over the $16.9 million operating loss posted for February on $314.4 million in net sales.

The net loss for March was $30.78 million, narrowing from a $33.99 million February net loss.

AbitibiBowater had $458.5 million in cash and cash equivalents at March 31, down from $468.5 million at the end of February.

AbitibiBowater, a Montreal-based producer of newsprint, commercial printing papers, market pulp and wood products, filed for bankruptcy on April 16, 2009. Its Chapter 11 case number is 09-11296.

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