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Tower Automotive posts $1.17 million May operating loss
By Caroline Salls
Pittsburgh, June 30 - Tower Automotive Inc. showed a $1.17 million operating loss for May on $140.83 million in revenues, according to a Friday filing with the Securities and Exchange Commission.
In April, the company posted a $1.82 million operating loss on $127.05 million in revenues.
The net loss for May was $7.31 million, down from a $13.48 million April net loss.
Cash and cash equivalents on May 31 were $53.47 million, compared with $65.03 million at the end of April.
The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-10578.
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