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Velocity Express posts $940,000 operating loss for Oct. 25 to Nov. 21
By Caroline Salls
Pittsburgh, Jan. 6 - Velocity Express Corp. reported a $940,000 loss from operations for the period of Oct. 25 to Nov. 21 on $14.14 million in revenues, according to its monthly operating report filed Tuesday with the U.S Bankruptcy Court for the District of Delaware.
In comparison, the company posted a $2.21 million loss from operations for the period of Sept. 27 to Oct. 24 on $14.62 million in revenues.
The net loss for the November period was $4.47 million, narrowing from a $5.84 million net loss for the previous period.
The company had $920,000 in cash at Nov. 21, down from $951,000 at Oct. 24.
Velocity Express, a regional delivery services provider based in Westport, Conn., filed for bankruptcy on Sept. 24. Its Chapter 11 case number is 09-13294.
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