Loral Space & Communications posts $3 million operating loss for May 21 to June 30

By Caroline Salls

Pittsburgh, Aug. 15 - Loral Space & Communications Ltd. reported a $3 million operating loss for the period May 21 to June 30 on revenues of $68 million, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

For April 22 to May 20, the company posted an $8 million operating loss on revenues of $34 million.

The net income for the period to June 30 was $7 million, compared to an $8 million net loss for the period to May 20.

Cash and cash equivalents on June 30 were $176 million, up from $168 million on May 20.

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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