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VarTec reports $6.38 million operating income for February
New York, March 21 - VarTec Telecom Inc. reported operating income of $6.38 million in February, down from $7.64 million in January, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Northern District of Texas.
The net loss for the month was $115,000, an improvement from a $20.95 million loss the month before. January's figure was dragged down by a $22.08 million loss on equity investments.
Net revenue for February declined to $45.60 million from $52.56 million in January.
Cash as of Feb. 28 was $19.64 million, up from $14.58 million a month earlier.
Dallas-based VarTec filed for bankruptcy on Nov. 1. Its Chapter 11 case number is 04-81694.
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