[Satellite TODAY 05-11-11] Loral Space & Communications generated $67.8 million in 2011 first quarter net income, which more than doubled its $29.4 million intake during the same period in 2010, the company announced in its latest financial results issued May 10.

            Loral’s satellite manufacturing division Space Systems/Loral (SS/L) grew its revenues by $50 million to $280.7 million compared to the first quarter of 2010. Loral satellite service subsidiary Telesat previously reported 2011 first quarter revenues of $205.7 million – an improvement over the $191.5 million revenue mark it recorded last year.

            Loral CEO Michael Targoff credited Telesat and SS/L’s continued focus on operating efficiencies and growth strategies for the company’s overall performance and hinted that the results could improve its bargaining power in a possible division sell-off.

“The previously announced process to explore strategic alternatives for Telesat and SS/L is ongoing. The operating strength and prospects of both Telesat and SS/L provide us with a number of favorable alternatives ranging from sale or public offerings to staying the course with or without an SS/L spinoff or Telesat recapitalization or other internal restructuring. We would hope to have more clarity this quarter and will provide updates as events warrant,” Targoff said in a statement.