Loral Space & Communications posts $7 million operating loss for March 31 to April 22

By Caroline Salls

Pittsburgh, June 7 - Loral Space & Communications Ltd. reported a $7 million operating loss for the period from March 31 to April 22 on revenues of $35 million, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

In March, the company posted a $9 million operating loss on sales of $51 million.

The net loss for the March 31 to April 22 period was $6 million, down from a $10 million net loss for the previous period.

Cash and cash equivalents on April 22 were $85 million, compared to $78 million at March 31.

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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