Technology Industry
Industry: Email Alert RSS FeedLoral space reports more than $1b loss.
RCR Wireless News, February, 2001 by Weaver, Heather Forsgren
NEW YORK--Loral Space & Communications Ltd. reiterated in its fourth quarter and year-end 2000 financial results that it is substantially revising its plan for participation in the broadband communications market and it has modified its involvement in Globalstar L.P. The company reported a net loss of $1.08 billion, or $3.65 per share, for the fourth quarter ended Dec.
3 1, compared with a loss of $122.8 Million, or 42 cents per share, for the same last year. Loral posted a net loss of $1.44 billion, or $4.86 per share, for the year, compared with a loss of $246.6 million, or 85 cents per share, for 1999. "The company recently took a series of steps designed to improve shareholder value and put Loral on solid footing for 2001 and beyond," said...
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