Patriot Coal records improved $20.46 million operating loss in March

By Caroline Salls

Pittsburgh, May 9 - Patriot Coal Corp. posted a $20.46 million operating loss for March on $128.87 million in total revenues, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

The figures showed improvement over the $37.94 million operating loss reported for February on $105.07 million in total revenues.

The net loss for March was $26.57 million, narrowing from a $47.15 million February net loss.

The company had $212.15 million in cash and cash equivalents as of March 31, down from $242 million at the end of February.

Patriot Coal, a St. Louis-based miner, producer and seller of thermal coal, filed for bankruptcy on July 9, 2012 in the U.S. Bankruptcy Court for the Southern District of New York. The case was transferred to the U.S. Bankruptcy Court for the Eastern District of Missouri under Chapter 11 case number 12-51502.

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