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Golfsmith reports $859,000 operating loss for April 2-April 29 period
By Caroline Salls
Pittsburgh, June 5 – Golfsmith International Holdings, Inc. reported an $859,000 operating loss for the period of April 2 to April 29 on $72,000 in net revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
By comparison, Golfsmith posted a $1.12 million operating loss for the period of Feb. 26 to April 1 on zero net revenue.
Net income for the latest period was $16 million, improving from a $3.59 million net loss for the previous period.
The company had $11.39 million in cash as of April 29, up from $10.09 million at April 1.
Golfsmith, an Austin, Texas-based golf specialty retailer, filed bankruptcy on Sept. 15, 2016. Its Chapter 11 case number is 16-12033.
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