Blockbuster operating loss grows to $112.3 million after asset sale

By Caroline Salls

Pittsburgh, June 1 - Blockbuster Inc. reported a $112.3 million operating loss for the period of April 4 to May 1 on $71.5 million in revenues, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed an increase from the $67.2 million operating loss posted for the four weeks ended April 3 on $173 million in revenues.

The net loss for the April period was $660.1 million, widening significantly from a $46.2 million net loss for the March period.

According to the report, the loss for the latest period includes a $581.9 million loss from the sale of Blockbuster's assets.

The company had $201.2 million in cash and cash equivalents at May 1, up from $74.1 million at April 3.

Blockbuster, a Dallas-based provider of in-home movies and game entertainment, filed for bankruptcy on Sept. 23, 2010. Its Chapter 11 case number is 10-14997.

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