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Point Blank Solutions posts $1.1 million April net loss; sales drop
By Caroline Salls
Pittsburgh, May 31 - Point Blank Solutions, Inc. reported a $1.1 million net loss for April on $11.6 million in net sales, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
The figures showed a decline from the $509,833 net loss posted for March on $13.83 million in net sales.
The company had $5.88 million of cash at April 30, up from $3.25 million at the end of March.
Point Blank, a Pompano Beach, Fla., producer of body armor systems for law enforcement and the military, filed for bankruptcy on April 14, 2010. Its Chapter 11 case number is 10-11255.
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