Meruelo Maddux reports $100,275 May net profit from operations

By Caroline Salls

Pittsburgh, June 26 - Meruelo Maddux Properties Inc. reported a $100,275 net profit from operations for May on $2.38 million in total revenues, according to its monthly operating report filed Friday with the Securities and Exchange Commission.

The figures showed improvement over the $1.28 million net loss from operations posted in April on $1.94 million of total revenues.

The net loss for May was $1.81 million, narrowing from a $2.92 million April net loss.

The company had $6.77 million in cash at May 31, up from $4.53 million at the end of April.

Meruelo Maddux, a self-managed, full-service real estate company that develops, redevelops and owns commercial and multi-family residential properties, filed for bankruptcy on March 26 in the U.S. Bankruptcy Court for the Central District of California. Its Chapter 11 case number is 09-13356.

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