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Loral Space & Communications posts zero net income on sales of $140 million
By Jeff Pines
Washington, Nov. 9 - Loral Space & Communications Ltd. posted a zero net income on sales of $140 million for the period of Aug. 21 to Sept. 30, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.
The operating loss from continuing operations was $4 million.
On Sept. 30, cash and cash equivalents were $169 million.
Last month, Loral settled an insurance claim for $9.3 million over a satellite that was sold.
Loral, a New York-based satellite company, filed for bankruptcy on July 15, 2003. Its Chapter 11 case number is 03-41710.
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