(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.
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