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VarTec Telecom posts $3.64 million operating income for March
New York, April 21 - VarTec Telecom, Inc. reported an operating profit of $3.64 million for March on revenues of $28.43 million, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.
The figures were down from a $4.02 million operating profit on revenues of $28.19 million in February.
Net profit for March was $1.01 million, reduced from $8.76 million in February. The difference was largely due to a $7.36 million settlement recorded in February.
Cash at March 31 was $50.70 million, up from $45.17 million at the end of February.
VarTec, a Dallas-based telecommunications provider, filed for bankruptcy Nov. 1, 2004. Its Chapter 11 case number is 04-81694.
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