Hobbico sees net loss narrow to $1.85 million in March; sales improve

By Caroline Salls

Pittsburgh, May 8 – Hobbico Inc. reported a $1.85 million net loss for March on $10.3 million in sales, according to its monthly operating report filed May 7 with the U.S. Bankruptcy Court for the District of Delaware.

In comparison, Hobbico posted a $2.83 million net loss for February on $9.1 million in sales.

The company had $435.92 million in cash as of March 31, down from $1,571,441,000 at Feb. 28.

Hobbico is a Champaign, Ill.-based designer, manufacturer and distributor of radio control and general hobby products. The company filed for bankruptcy on Jan. 10 under Chapter 11 case number 18-10055.

© 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.