Able Laboratories posts $74,375 May operating profit

By Caroline Salls

Pittsburgh, June 21 - Able Laboratories Inc. reported a $74,375 operating profit on zero revenue in May, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of New Jersey.

The operating profit shows an improvement over a $196,573 April operating loss, also on zero revenue.

The net loss for May was $71,456, down from a $446,346 April net loss.

Unrestricted cash and cash equivalents on May 31 were $15.24 million, compared with $16.34 million at the end of April.

Able is a Cranbury, N.J., developer and manufacturer of general pharmaceuticals. The company filed for bankruptcy on July 11, 2005. Its Chapter 11 case number is 05-33129.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.