Satmex posts $1.24 million October operating loss

By Caroline Salls

Pittsburgh, Nov. 20 - Satelites Mexicanos, SA de CV reported a $1.24 million operating loss for October on $6.85 million in revenue, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures show improvement over a $2.65 million September operating loss on $5.93 million in revenue.

The net loss for October was $27.64 million, down from a $1.11 million September net income.

The October net loss included $13.46 million in interest expenses and a $13.11 million foreign exchange loss.

Cash and cash equivalents at Oct. 31 were $35.21 million, compared with $31.57 million at the end of September.

Satmex, a Mexico-based satellite operator, filed for bankruptcy on Aug. 11. Its Chapter 11 case number is 06-11868.

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