Hastings Entertainment posts $4.8 million operating profit for August

By Caroline Salls

Pittsburgh, Sept. 30 – Hastings Entertainment, Inc. reported a $4.8 million profit from operations for August on $47.8 million in revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, Hastings posted a $6.2 million profit from operations for July on $40.8 million in revenue.

Net income for August was $4.3 million, up from $1.6 million of July net income.

The company had $24.5 million in cash and cash equivalents as of Aug. 31, down from $37 million at the end of July.

Amarillo, Texas-based Hastings Entertainment is a multimedia entertainment retailer. The company filed bankruptcy on June 13 under Chapter 11 case number 16-11452.

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