Loral Space & Communications posts $4 million operating loss for July 23 to Aug. 19

By Caroline Salls

Pittsburgh, Oct. 14 - Loral Space & Communications Ltd. reported a $4 million operating loss for the period of July 23 to Aug. 19 on revenues of $48 million, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

For the period of July 1 to July 22, the company posted an $11 million operating loss on $29 million in revenues.

The net loss for the August period was also $4 million, down from a $10 million net loss for the period to July 22.

Cash and cash equivalents on Aug. 19 were $165 million, compared to $158 million on July 22.

Loral, a New York-based satellite company, filed for bankruptcy on July 15, 2003. Its Chapter 11 case number is 03-41710.

© 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.