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PTC Seamless sees net loss grow to $1.04 million in June, zero sales
By Kali Hays
New York, July 20 – PTC Seamless Tube Corp. posted a net loss of $1.04 million on zero sales for June, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Western District of Pennsylvania.
For April 26 through May 31, the company reported a $664,582 net loss, also on zero sales.
PTC marked negative $615,518 of EBITDA for June, a slight improvement from negative EBITDA of $622,684 for the May period.
The company also held $217,893 in cash as of June 30, up from $102,194 as of May 31.
PTC Seamless is a Wexford, Pa.-based steel tubing mill construction project that filed for bankruptcy on April 26. The Chapter 11 case number is 15-21445.
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