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LightSquared sees $68.11 million November net loss; revenue declines
By Caroline Salls
Pittsburgh, Dec. 15 – LightSquared Inc. reported a net loss of $68.11 million for November on $1.52 million in revenue, according to its monthly operating report filed Dec. 15 with the U.S. Bankruptcy Court for the Southern District of New York.
Those figures showed a decline from the $67.55 million net loss posted for October on $1.56 million in revenue.
The company also had cash and cash equivalents of $44.86 million as of Nov. 30, up from $30.45 million at the end of October.
LightSquared is a Reston, Va.-based wholesale-only 4G-LTE network integrated with satellite coverage. The company filed for bankruptcy on May 14, 2012 under Chapter 11 case number 12-12080.
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