Mirant posts loss of $581.93 million in December

By Ellen Chang

Houston, March 16 - Mirant Corp. posted a loss of $581.93 million in December on revenue of $407.64 million, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Northern District of Texas.

The operating loss for the month was $523.11 million.

Contributing to the big deficit was an impairment charge of $581.65 million.

By comparison, Mirant recorded net income of $72.52 million in November on sales of $355.44 million and operating income of $97.37 million.

Cash on Dec. 31 was $1.48 billion, little changed from a month earlier.

Mirant, an Atlanta-based power company, filed for bankruptcy on July 14, 2003. Its Chapter 11 case number is 03-46590.

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