Loral Space & Communications Inc. posted a 41 percent increase in the 2006 second quarter to $192.9 million, driven by satellite construction contracts, the company announced Aug. 7. In the 2005 second quarter, Loral reported revenues of $136.8 million.

Despite the gain in revenues, Loral’s net loss grew from $7.4 million in the 2005 second quarter to $11.4 million in the 2006 second quarter, which closed June 30.

Loral’s satellite manufacturing unit, Space Systems/Loral (SS/L), posted revenues of $1633. million in the 2006 second quarter, up 53 percent from revenues of $106.6 million in the 2005 second quarter. SS/L’s operating profit was $11.8 million in the most recent quarter, up from $6.2 million in the same period a year ago, driven primarily by increased sales from satellite construction contracts signed in 2005 and 2006.

SS/L booked three new satellite construction contracts during the quarter, bringing its backlog to $1.1 billion at the end of June.

Loral Skynet, the satellite services unit, had revenues of $37.9 million in the 2005 second quarter, up only slightly from revenues of $37.5 million in the same period in 2005. Operating earnings were $14.1 million in the most recent period, up from $11.8 million in the 2005 second quarter.

Utilization on Loral Skynet’s satellite fleet at the end of the second quarter was 75 percent, compared to 66 percent at the end of the second quarter of 2005. The backlog was $426 million at the end of June, down from $453 million at the end of 2005.