Verso posts $5.4 million operating loss for April on $215 million sales

By Sheri Kasprzak

New York, June 1 – Verso Corp. reported a $5.4 million operating loss for April on $215.21 million in net sales, according to the company’s monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Comparatively, the company reported a $147.62 million operating loss for March on $233.55 million in net sales.

The net loss for April was $17.85 million, down from $87.35 million in March.

The company had $23.91 million in cash and cash equivalents as of April 30, down from $40.45 million at the end of March.

Based in Memphis, Verso produces printing and specialty papers and pulp. The company filed for bankruptcy on Jan. 26 under Chapter 11 case number 16-10163.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.