Loral Loss Grows As Revenues Hold Flat In First Quarter
[Satellite Today – 5-19-08] Loral Space and Communications posted revenues of $218.5 million in the 2008 first quarter as the company posted a loss of $71.2 million, the company announced May 19.
Space Systems/Loral, the satellite manufacturing segment, reported revenues before eliminations of $219.8 million, a ten percent increase from the $200.3 million reported in the first quarter of 2007. Adjusted earnings before interest, taxes, depreciation and amortization was $4.7 million for the quarter, down from $7.4 million from the same period in 2007 due to investment in a satellite program awarded in 2008. Backlog stood at $1.2 billion at the end of March compared to $1 billion at the end of 2007.
Satellite operator Telesat reported revenues of $166.5 million and adjusted earnings before interest, taxes, depreciation and amortization of $99.4 million. Telesat ended the first quarter with backlog of $5.1 billion, $41 million total cash and $2.8 of billion debt.