Loral Space & Communications... Financially Speaking...
Loral Space & Communications Inc. (Nasdaq:LORL) has announced the Company's financial results for the three and nine months ended September 30, 2009. Notable achievements for the company include:
- Telesat and Space Systems/Loral (SS/L) financial results continued to reflect strong performance
- SS/L's third quarter Adjusted EBITDA was US$32 million, contributing to a nine month total Adjusted EBITDA of US$54 million, more than double the Adjusted EBITDA of the first nine months of 2008
- Telesat's Nimiq 5 satellite, built by SS/L, was successfully launched in the quarter and began commercial service in October
- Telesat's growth initiatives include a replacement satellite currently under construction at SS/L and a DTH television satellite to be leased to Bell TV, which is expectedto begin construction in the first quarter of 2010
Combined segment revenues, for both S
atellite Manufacturing and
Satellite Services, for the quarter ending September 30, 2009, were US$424 million compared to US$386 million for the third quarter in 2008. Combined segment Adjusted EBITDA for the quarter was US$145 million, compared to US$114 million for the third quarter of 2008. Combined segment revenues for the first nine months of the year were US$1.3 billion compared to US$1.2 billion for the first nine months of 2008. Combined segment Adjusted EBITDA for the nine months ending September 30, 2009 was US$391 million compared to US$334 million for the first nine months of 2008. To read the entire financial report,
select this direct link.
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