Tower Automotive posts $22.46 million March operating loss

By Caroline Salls

Pittsburgh, April 29 - Tower Automotive Inc. reported a $22.46 million operating loss in March on revenues of $206.77 million, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

The company reported a $640,000 operating loss in February on revenues of $183.36 million.

The net loss for March was $70.61 million, compared with $24.75 million in February.

Cash and cash equivalents were $2.70 million at the end of March, compared with $9.62 million in February.

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

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