Loral Space & Communications posts $26.4 million third-quarter operating loss

By Caroline Salls

Pittsburgh, Nov. 10 - Loral Space & Communications Ltd. reported a $26.4 million operating loss for the third quarter on revenues of $160.04 million, according to a 10-Q filing with the Securities and Exchange Commission.

The operating loss is down from $35.13 million in the third quarter of 2004. Revenues for that period were $198.62 million.

The net loss for the three months ended Sept. 30 was $25.2 million, down from a $31.4 million net loss for the same period of 2004.

Cash and cash equivalents at Sept. 30 were $198.65 million, compared with $147.77 million at Dec. 31, 2004.

The operating loss for the nine months ended Sept. 30 was $67.1 million, nearly half of the $161.69 million operating loss for the same period of 2004.

Revenues for the nine-month periods were much closer, with revenues of $429.18 million for the first nine months of 2005 and $416 million in 2004.

Loral, a New York-based satellite company, filed for bankruptcy on July 15, 2003 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 03-41710.

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