Loral Space & Communications… Financially Speaking…

[SatNews] Loral Space & Communications Inc. (Nasdaq:LORL) has announced its financial results for the three months ended March 31, 2011.

Revenues and Adjusted EBITDA¹ at Telesat and Space Systems/Loral (SS/L) showed continued Title SBIRS Atlas V Go! USAF Mission To Support And Save Lives (Launch) when compared to the first quarter of 2010. Highlights include:

• Telesat and SS/L financial results continued to reflect strong operating performance
• SS/L reported first quarter revenue of $280.7 million and Adjusted EBITDA of $40.5 million
• Telesat reported first quarter revenue of $205.7 million and Adjusted EBITDA of $158.9 million
• Loral’s liquidity is strong, with quarter end cash of $106.5 million, no debt and no borrowings under the $150 million revolver at SS/L
• Telesat’s newest satellite, Telstar 14R/Estrela do Sul, built by SS/L, was delivered to launch base ahead of schedule for a late May launch

Combined segment revenues and Adjusted EBITDA for the quarter were $486.4 million and $194.6 million, respectively, which compared to $422.3 million and $151.6 million, respectively, in the first quarter of 2010. All of Telesat’s revenue and Adjusted EBITDA are included in these segment results2. Loral’s income statement, however, reflects its 64 percent economic interest in Telesat only under the equity method of accounting. Loral’s revenues and Adjusted EBITDA for the quarter after eliminations were $279.9 million and $35.4 million, respectively, compared to $228.9 million and $8.5 million respectively, in the first quarter of 2010. The eliminations include all of Telesat’s results, as well as the impact of Loral’s portion of the ViaSat-1 construction contract on SS/L’s results. To read the entire financial report, access this direct infolink.