EMAS Chiyoda Subsea posts $21.68 million April net loss; revenue up

By Caroline Salls

Pittsburgh, May 23 – EMAS Chiyoda Subsea Ltd.’s consolidated net loss for April was $21.68 million, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

In comparison, the company reported an $18.26 million consolidated net loss for the period of Feb. 28 through March 31.

EMAS Chiyoda listed $28.45 million of revenue for April, compared with $18.19 million for the March period.

In addition, the company had $6.42 million in cash as of April 30, up from $1.35 million at the end of March.

EMAS, a Houston-based global offshore marine company, filed bankruptcy on Feb. 27. The Chapter 11 case number is 17-31146.

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