Proliance posts $1.63 million August operating loss; sales declining

By Alice Popovici

New York, Oct. 16 - Proliance International, Inc. reported a $1.63 million operating loss for Aug. 1 through Aug. 31 on $3.25 million in net sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The figure compares with a $1.25 million operating loss for the period of July 2 to July 31, on $10.35 million in net sales.

The net loss for August was $73.35 million, compared to $2.14 million reported for the July period. In August the company lost $67.96 million on a sale of North American assets, according to the report.

The company had $7.02 million in cash and cash equivalents at Aug. 31, up from $209,000 at the end of July.

Proliance International is a New Haven, Conn.-based manufacturer and distributor of aftermarket heat transfer and temperature control products for automotive and heavy-duty applications. It filed for bankruptcy on July 2. Its Chapter 11 case number is 09-12278.

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