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Borders sees $2.3 million of operating income for Sept. 25-Oct. 29
By Caroline Salls
Pittsburgh, Nov. 21 - Borders Group, Inc. reported $2.3 million of operating income for the period of Sept. 25 to Oct. 29 on $3.4 million of total revenues, according to its monthly operating report filed Monday with the Securities and Exchange Commission.
In comparison, Borders posted $61.6 million of operating income for the period of Aug. 28 to Sept. 24 on $159.5 million of total revenues.
The net income for the October period was $4.1 million, down from $66.1 million for the September period.
The company had $73 million in cash and cash equivalents at Oct. 29, down from $75 million at Sept. 24, according to court documents.
Borders, an Ann Arbor, Mich.-based retailer of books and other educational and entertainment items, filed for bankruptcy on Feb. 16, 2011 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 11-10614.
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