Former Precision Parts posts $57,930 September net loss; Cash down

By Caroline Salls

Pittsburgh, Oct. 28 - PPI Holdings Inc., formerly Precision Parts, reported a net loss of $57,930 for September on zero net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, PPI posted a $55,109 net loss for August, also on zero net sales.

The company also reported cash and cash equivalents of $519,513 as of Sept. 30, down from $577,443 at the end of August.

Precision Parts is a Rochester Hills, Mich., designer and manufacturer of high-precision metal components and subassemblies. The company filed for bankruptcy on Dec. 12, 2008. Its Chapter 11 case number is 08-13289.

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