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GT Advanced sees $509.63 million operating loss for Nov. 1 to Nov. 28
By Caroline Salls
Pittsburgh, Dec. 31 – GT Advanced Technologies, Inc. showed a $509.63 million loss from operations for the period of Nov. 1 through Nov. 28 on $1.16 million in revenue, according to its monthly operating report filed Dec. 30 with the U.S. Bankruptcy Court for the District of New Hampshire.
In comparison, the company posted a $5.19 million loss from operations for the period of Sept. 27 through Oct. 31 on $978,000 in revenue.
GT’s net loss for the November period was $98.04 million, widening significantly from a $6.53 million net loss for the October period.
The company also had $95.49 million in cash and cash equivalents as of Nov. 28, down from $99.76 million at the end of October.
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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