Tower Automotive reports $3.76 million June operating loss

By Caroline Salls

Pittsburgh, July 31 - Tower Automotive, Inc. reported a $3.76 million operating loss for June on revenues of $89.59 million, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures show a decline from a $6.26 million operating income reported in May on $98.53 million in revenues.

The June net loss was $13.77 million, widening from a $4.92 million May net loss.

Cash and cash equivalents on June 30 were $1.78 million, compared with $2.65 million at the end of May.

The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005. Its Chapter 11 case number is 05-10578.

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