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Ormet reports $2.29 million operating loss for July on zero revenue
By Caroline Salls
Pittsburgh, Aug. 20 – Ormet Corp. reported a $2.29 million operating loss for July on zero total revenue, according to an Aug. 20 filing with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, the company posted a $2.03 million operating loss for June, also on zero total revenue.
The net income for July was $53,000, improving from the $4.08 million net loss reported for June.
The company also listed $591,000 in cash as of July 31, up from $413,000 at the end of June.
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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