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Patriot Coal Losses Widened in July

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Patriot Coal Corp.’s operating loss widened to $47.8 million last month from $28.7 million in June after revenue dropped 30 percent, the St. Louis Post-Dispatch reported on Saturday. The $95.1 million in revenue for July was $24.1 million less than the month’s operating expenses. Items including $14.7 million in depreciation added to the coal producer’s loss, according to the operating report filed on Wednesday in bankruptcy court. The net loss for July was $69.9 million, compared with $40.1 million the month before. June revenue totaled $136.6 million, for an operating loss of $28.7 million. Revenue in June was 10 percent below May’s sales. The June net loss exceeded the May loss by more than $10 million.