Loral Space & Communications posts $8 million operating loss from April 22 to May 20

By Caroline Salls

Pittsburgh, July 7 - Loral Space & Communications Ltd. reported an $8 million operating loss for the period April 22 to May 20 on revenues of $34 million, according to its operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

In April, the company posted a $7 million operating loss on revenues of $36 million.

The net loss for the period to May 20 was also $8 million, up from a $6 million net loss for the previous period.

Cash and cash equivalents on May 20 were $168 million, compared to $85 million at April 22.

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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