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Propex posts EBITDA of $1.8 million for four weeks ended March 2
By Jennifer Lanning Drey
Portland, Ore., March 27 - Propex Inc. reported EBITDA of $1.8 million on net revenue of $44.6 million for the four-week period ended March 2, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Tennessee.
The company reported EBITDA of $7.3 million on net revenue $52.8 million for the prior four-week period.
The net loss for the period ended March 2 was $100,000, compared with a net loss of $1.1 million in the prior period.
Propex had cash and cash equivalents of $31.4 million at March 2.
Propex is a Chattanooga, Tenn., producer of primary and secondary carpet backing. It filed for bankruptcy on Jan. 18, and its Chapter 11 case number is 08-10249.
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