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GT Advanced posts operational loss of $8.93 million for May period
By Kali Hays
New York, June 30 – GT Advanced Technologies, Inc. showed an $8.93 million loss from operations for the period of May 3 through May 30 on $2.92 million in revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of New Hampshire.
In comparison, the company reported an operational loss of $11.05 million and revenue of $1.72 million for March 29 through May 2.
GT’s net loss for the May period was $11.74 million, improving from $15.57 million in April.
The company had $52.34 million in cash and equivalents as of May 30, down from $55.58 million as of May 2.
Merrimack, N.H.-based GT Advanced Technologies is a provider of equipment and services that support the growth of the solar and LED industries. The company filed for bankruptcy on Oct. 6, 2014 under Chapter 11 case number 14-11916.
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