Mirant loses $83.88 million on revenues of $287.94 million for September

By Jeff Pines

Washington, Nov. 12 - Mirant Corp. recorded an $83.88 million loss on sales of $287.94 million for September, according to a monthly report filed Thursday with the U.S. Bankruptcy Court for the Northern District of Texas.

In August, the company earned $17.79 million on sales of $394.89 million.

The September operating loss was $56.65 million compared with an operating gain of $88.5 million for August.

August generation revenues of $342.82 million fell by slightly more than $100 million to $242.69 million in September, and total operating expenses grew by $38.12 million in September to $344.58 million.

For the quarter, the Atlanta-based energy company posted a $32 million profit on sales of $1.12 billion with an operating income of $147.56 million.

Cash and cash equivalents in September were $1.54 billion compared with $1.48 billion for August.

Mirant filed for bankruptcy on July 14, 2003. Its Chapter 11 case number is 03-46590.

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