Loral Slashes Forecasts, Shares Plunge

WOT A SURPRISE!!!

I just called my brother who works for Lockheed-Martin and this portion of Loral was not taken over by LM when they bought parts of Loral!

Bernie is on his own!

Good buy for Boeing with the stock tanking but then we would have to two companies merged that helped advance the Chicoms way ahead in missle technology. Just what we don't need!

One of the Largest to the DNC I believe.

While his donations to the DNC were grand, that amount pales in comparison to the assistance he provided to China.

Those donations may prove devastating to America as they may very well end up delivered to US via Al Queda.

I believe lockheed owns around 11% of loral.

Judicial Watch isn't done with Loral and that is all I am going to say.

Ahhhhhh....poor baby! < snicker >

Thanks for posting this really good news:

Bernie Schwartz had a Loral stock and option holdings worth $245 million at the inaugration of George W. Bush

At today's price his holdings are now worth $7 million, and all his options are under water.

HaHa, pretty soon he won't even be able to buy a seat at a Clintoon speech. Bernie's a loser!

This couldn't happen to a more deserving Rat Clymer than this creep. He enabled the ChiComs to have the technical ability to target American Cities with their ICBM's.

Of course now that he is broke and has zero juice, the Clintoons will drop him like a used piece of toilet tissue.

Bernie ******* the United States of America and now he ***** his shareholders. Don't get in bed with traitorous, sellout corporations like Loral. The way of the world!

Ala GX!

April 30, 1997 - Lockheed Martin acquired most of the Loral Corporation last year.

Its amazing what happens to a company when their friends in government that accepted
bribes and then waived trade restrictions to communists are no longer in office.

Everyday it becomes more and more apparent why algore had to win.

We all think tooooo much alike - I was just thinking "it couldn't happen to a nicer bunch". I also think it is their just deserts for being a traitor to this country.

Bernie Schwartz had a Loral stock and option holdings worth $245 million at the inaugration of George W. Bush At today's price his holdings are now worth $7 million, and all his options are under water. HaHa, pretty soon he won't even be able to buy a seat at a Clintoon speech. Bernie's a loser! This couldn't happen to a more deserving Rat Clymer than this creep. He enabled the ChiComs to have the technical ability to target American Cities with their ICBM's. Of course now that he is broke and has zero juice, the Clintoons will drop him like a used piece of toilet tissue.

Great read. Deserved reposting. That's my reply.

LORAL ISSUES NEW GUIDANCE FOR 2002

NEW YORK - July 2, 2002 - Loral Space & Communications (NYSE: LOR) has revised some of its performance expectations for 2002 and issued new guidance for the year.

The continuation of the general economic slowdown, particularly in telecommunications, is affecting Loral's performance this year. Loral's operations remain healthy and EBITDA positive. They continue to generate substantial amounts of cash, but the growth expected this year in the fixed satellite services segment has not yet materialized. Consequently, the company is issuing new guidance for the year.

Current guidance for the full year is as follows:

Loral's reported revenues for the year are expected to rise to approximately $1.2 billion, a 15 percent increase over last year; previous guidance called for a 20 percent increase.

Loral's EBITDA is expected to decline approximately five percent from the $223 million reported last year; previous guidance called for a 15 percent increase.

Consistent with previous guidance, Loral continues to expect to end the year with $80 - $90 million in cash and available credit, after capital spending of $160 million ($125 million for satellite construction, $35 million for ground systems), dividend and interest payments, and an investment of $30 million in XTAR.

The net loss is expected to improve from $276 million last year to approximately $190 million this year before a previously reported first-quarter goodwill charge.

Net loss per share (excluding the goodwill write-off) is expected to be approximately $0.50 versus last year's loss of $0.86. Without an $0.11 per share non-cash accounting charge related to the preferred exchanges in the second quarter, the expected loss would have been slightly better than previous guidance of $0.40-0.50 per share.
These estimates are better than, or equal to, last year's results, reflecting an improvement in operating performance at Loral's satellite manufacturing business. Skynet's business, however, has been negatively affected by the economic climate and the delay in demand for new applications and services, especially broadband. This industry-wide trend is evidenced, for example, by the postponement of broadband projects due to lack of funding. In addition, recent events like the early-June bankruptcy filing by one of Skynet's customers, a direct-to-consumer broadband company, have adversely affected Skynet's near-term growth. The company has assessed Skynet's current book of business and does not believe that its future growth will be affected by similar defaults. Skynet is expected to maintain its share of the market this year.

These factors translate for Skynet into an expected capacity utilization rate of 60 percent at year-end 2002 versus 68 percent at the end of last year. Lease rates for new capacity have declined recently by about 10 percent. The effect on the year-end average annual revenue per transponder, however, is a slight decline from $1.6 million to $1.5 million due to Skynet's existing, contracted long-term leases. The cost of insurance - both launch and on-orbit - rose dramatically after the events of September 11 and has not returned to traditional levels as expected, adding to satellite operators' costs. Following is 2002 Skynet guidance:

Skynet revenue is expected to decline to approximately $340 million versus $389 million last year. The company had previously expected single-digit growth for this unit in 2002.

Skynet's EBITDA is expected to decline approximately 15 percent from $276 million last year. Its EBITDA margin is expected to be about 68 percent, down from 71 percent last year.

Skynet backlog at the end of the year is expected to be $1.3 billion or nearly four times revenue, compared to $1.4 billion at the end of the prior year.
With regard to the satellite manufacturing business, 2002 guidance for Space Systems/Loral is as follows:

SS/L revenue is expected to increase about 20 percent over last year's revenue of $815 million, in line with previous guidance.

SS/L EBITDA is expected to exceed $40 million, an improvement of 67 percent over last year's $24 million. SS/L has aggressively reduced costs to match the current business environment and is beginning to see benefits from improved production processes put in place last year. As a result, it expects that the year-end EBITDA margin will be an improvement over last year's performance.

SS/L is scheduled to deliver four more geosynchronous satellites (for a total of eight, an SS/L record) by the end of the year.

Across the satellite manufacturing industry worldwide, only one order for the construction of a new commercial geosynchronous satellite has been placed in the last nine months. By contrast, 25 contracts were awarded in all of 2001. A recent increase in requests for proposals (RFPs) along with recent customer activity, reaffirm Loral's confidence that orders for satellite construction will pick up in the second half and that SS/L will capture at least its market share. SS/L's year-end backlog is expected to be approximately $800 million.
Loral continues to progress but at a slower pace than expected. The company is managing its operations to match current and expected business conditions, protect its margins and preserve liquidity and financial flexibility. The current economic environment, however, would indicate a delay in Loral's ability to achieve net profit in late 2003 as previously forecast.

Loral will issue a release reporting its second quarter performance at the end of July.

Loral Space & Communications is a high technology company that concentrates primarily on satellite-based services and satellite manufacturing, including broadcast transponder leasing and value added services, domestic and international corporate data networks, broadband data transmission and Internet services.

# # #
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, from time to time, Loral Space & Communications Ltd. or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the company with the Securities and Exchange Commission, press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions. These factors and conditions have been described in the section of the company's annual report on Form 10-K for the fiscal year ended December 31, 2001, entitled "Certain Factors That May Affect Future Results," and the company's other filings with the Securities and Exchange Commission. With regard to forward-looking statements concerning Loral Orion, Inc. and its business, financial condition, results of operations and prospects, the factors and conditions which could materially affect these statements are described in the section of Loral Orion's annual report on Form 10-K for the fiscal year ended December 31, 2001, entitled "Certain Factors That May Affect Future Results." The reader is specifically referred to these documents regarding the factors and conditions that may affect future results.

CONTACT:
Jeanette Clonan or Tony Doumlele
212/697-1105

Ping...MUD

Here is a little help in translating some of these acronyms:

EBITDA= Earnings before I tricked our dummy auditors.

CEO = Chief Embezzlement Officer

CFO = Chief Fraud Officer

NAV = Normal Andersen Valuation

EPS = Eventual Prison Sentence if there is a Controlling Legal Authority.

This couldn't happen to a more deserving Rat Clymer than this creep. He enabled the ChiComs to have the technical ability to target American Cities with their ICBM's.

Amen to that! Of course the MIRV technology stolen from our labs were the icing on the cake for the chicoms. Could'nt happen to a nicer guy...

Here is what Merrill Lynch had to say about Loral today.

"given Loral's weary fundamental outlook on all fronts, we see no compelling near-term reasons to own Loral's stock in a market with little appetite for risk."

Here's a thread from a year ago you might find interesting:

Panic when you hear the words "Don't Panic!" (Investment Advice for the Masses)