Sat construction ups Loral revenues

(Satellite Today via NewsEdge) Loral Space and Communications Inc. posted a 41% increase in second-quarter revenues to $192.9 million, from last year's $136.8 million, driven mainly by satellite construction contracts.


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


Loral's satellite manufacturing unit, Space Systems/Loral, posted revenues of $163.3 million in the second quarter, up 53% from $106.6 million in the same period last year. SS/L's operating profit was $11.8 million in the most recent quarter, up from $6.2 million 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 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 second quarter of 2005.


© 2006 Access Intelligence, LLC


© 2006 Dialog, a Thomson business. All rights reserved

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.