Point Blank Solutions posts $1.16 million net loss for September

By Jim Witters

Wilmington, Del., Oct. 27 - Point Blank Solutions Inc. posted a net loss of $1.16 million for September on net sales of $7.2 million, according to the company's monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The figures compare to a $481,766 net profit on sales of $5.95 million in August.

The company reported $9.43 million of cash as of Sept. 30, compared to $16.15 million at the end of August.

Point Blank is a Pompano Beach, Fla., producer of body armor systems for law enforcement and the military. The company filed for bankruptcy on April 14, 2010. Its Chapter 11 case number is 10-11255.

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