Meridian Automotive posts $4.67 million operating profit for August

New York, Sept. 27 - Meridian Automotive Systems Inc. showed a $4.67 million operating profit in August on sales of $82.80 million, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The profit was a sharp improvement from the $8.16 million operating loss reported in July. Sales were up from $45.05 million a month earlier.

In June, the company posted $2.2 million in operating income on sales of $80.82 million.

However August showed a net loss of $6.30 million due to $7.49 million of interest expense and $3.46 million of reorganization items.

But that was an improvement from July's net loss of $57.51 million.

As for the previous three months, Meridian reported zero cash as of Aug. 31.

Meridian, a Dearborn, Mich., supplier of front and rear end modules, lighting, exterior composites, console modules, instrument panels and other interior systems to automobile and truck manufacturers, filed for bankruptcy on April 26. Its Chapter 11 case number is 05-11168.

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