Loral Space & Communications posts $11 million operating loss for July 1-July 22

By Caroline Salls

Pittsburgh, Sept. 7 - Loral Space & Communications Ltd. reported an $11 million operating loss for the period of July 1 to July 22 on revenues of $29 million, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

For the May 21 to June 30 period, the company posted a $3 million operating loss on revenues of $68 million.

The net loss for the July period was $10 million, compared to net income of $7 million for the period to June 30.

Cash and cash equivalents on July 22 were $158 million, down from $176 million on June 30.

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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