Former A123 sees operating loss narrow to $7.67 million in February

By Caroline Salls

Pittsburgh, April 3 - B456 Systems, Inc., formerly A123 Systems, Inc., posted an operating loss of $7.67 million for February on zero total revenues, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, B456 reported a $16.63 million operating loss for January on $40.58 million of total revenues.

The net income for February was $251,000, improved from a $63.02 million January net loss.

The company also reported cash of $198.17 million as of Feb. 28, down from $207.92 million at the end of January.

Based in Waltham, Mass., A123 designs, develops, manufactures and sells rechargeable lithium-ion batteries and battery systems. The company filed for bankruptcy on Oct. 16 under Chapter 11 case number 12-12859.

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