Tower Automotive posts $2.58 million in April operating income

By Caroline Salls

Pittsburgh, May 27 - Tower Automotive Inc. reported $2.58 million in operating income for April on revenues of $191.62 million, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

In March, the company reported a $22.46 million operating loss on revenues of $206.77 million.

The net loss for April was $11.13 million, an improvement from the $70.61 million net loss in March.

Cash and cash equivalents at April 30 were $2.71 million compared to $2.70 million at the end of March.

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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