Verso operating loss narrows to $4.97 million in May; sales decline

By Caroline Salls

Pittsburgh, July 1 – Verso Corp. reported a $4.97 million operating loss for May on $209.73 million in net sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Comparatively, Verso reported a $5.4 million operating loss for April on $215.21 million in net sales.

The net loss for May was $9.07 million, narrowing from a $17.85 million April net loss.

The company had $25.63 million in cash and cash equivalents as of May 31, up from $23.91 million at the end of April.

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.

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