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Ormet reports $2.03 million June operating loss on zero total revenue
By Caroline Salls
Pittsburgh, July 18 – Ormet Corp. reported a $2.03 million operating loss for June on zero total revenue, according to its monthly operating report filed July 17 with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Ormet posted a $1.56 million operating loss for May on $492,000 in total revenue.
The net loss for June was $4.08 million, widening from a $3.58 million May net loss.
The company also listed cash of $413,000 as of June 30, down from $1.06 million at the end of April.
Ormet, a Hannibal, Ohio-based producer of aluminum, filed for bankruptcy on Feb. 26, 2013. The Chapter 11 case number is 13-10334.
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