Loral Space and Communications cut its net loss to $25.2 million in the third quarter 2005, down from a loss of $31.4 million in the same period a year ago, according to the company’s Form 10-Q filed with the U.S. Securities and Exchange Commission.

Revenue fell from $198.6 million in the third quarter 2004 to $160 million in the most recent quarter, which ended Sept. 30. Revenues from satellite services improved $6.9 million to $39.8 million, while satellite manufacturing revenues jumped from $78.5 million to $120.3 million. The decline in overall revenues was due to the complete loss of sales-type lease arrangements for satellite services, which contributed $87.2 million in revenues in the third quarter 2004.

Loral expects to emerge from bankruptcy before the end of the year, but warned that could be delayed due to appeals filed by a company shareholder representing the Loral Stockholders Protective Committee. The appeals, filed with the bankruptcy court and the U.S. Federal Communications Commission, request an investigation “into the financial matters and actions” of Loral. The company does not believe the appeals will prevent Loral’s reorganization from being approved.