Gadzooks posts $8,556 operating loss for October

New York, Dec. 2 - Gadzooks Inc. reported an operating loss of $8,556 for October on zero revenues, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The figure was down from a $553,555 operating loss in September, a figure inflated by $192,625 of compensation paid to insiders and officers and $278,619 spent on liquidation advertising.

Net income for October was $63,705 due to $153,550 of non-operating income, two-thirds of it a tax refund.

Cash at Oct. 31 was $1.94 million, down from $2.05 million at Sept. 30.

The Dallas-area apparel retailer filed for bankruptcy on Feb. 3, 2004. Its Chapter 11 case number is 04-31486.

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