Boomerang Tube loss narrows to $10.16 million in December; sales up

By Caroline Salls

Pittsburgh, Jan. 29 – Boomerang Tube LLC posted a $10.16 million net loss for December on $8.94 million in total net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Those figures showed improvement over the $11.04 million net loss reported for November on $7.12 million in total net sales.

The company also had $6.28 million in cash and cash equivalents as of Dec. 31, down from $13.13 million at the end of November.

Boomerang Tube is a St. Louis-based producer of oil country tubular goods and line pipe that filed for bankruptcy on June 9, 2015. The Chapter 11 case number is 15-11247.

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