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New Century posts $21.83 million August net loss
By Caroline Salls
Pittsburgh, Oct. 18 - New Century Financial Corp. reported a $21.83 million net loss for August on zero revenues, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.
The net loss widened from a $15.78 million July net loss.
The company also reported zero revenues in July, June and May.
New Century reported $21.26 million in cash and cash equivalents as of Aug. 31.
New Century, an Irvine, Calif.-based financial company, filed for bankruptcy on April 2, 2007 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 07-10416.
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