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.

© 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.