Loral Space & Communications Inc. has today announced here of its financial results for the three months ended March 31, 2007.

The Loral Space & Communications is a satellite communications company. The company excels in owning and operating a fleet of telecommunications satellites, that are used to broadcast video entertainment programming, distribute broadband data, and provide access to Internet services and other value-added communications services. Loral is also acclaimed as an internationally renowned leader especially in the designing and manufacturing of satellites and satellite systems. Its designed and manufactured satellites and satellite systems are being used for commercial and government applications that include direct-to-home television, broadband communications, wireless telephony, weather monitoring and air traffic management.

It has come out from the report that Loral's accounted revenue has gone up by 28 percent over last year's first quarter to $221 million and to the Company it is due to the result of a 44 percent increase in revenue before eliminations at SS/L. The Adjusted EBITDA(1) for the first quarter was $8 million, compared to Adjusted EBITDA of $11 million reported in the same period a year ago.  The Company, however, reported a net loss in the quarter of $17 million, where there was a  net loss of $16 million in the first quarter of 2006. Loral ended the first quarter of 2007 with $507 million in available cash and short term investments. In the month of February, Loral completed its $300 million of preferred stock financing with MHR Fund Management LLC.

Loral has also been found having an intention to utilize its cash and short term investments primarily for working capital requirements and facilities upgrades at SS/L, for the continued construction of Loral Skynet's Telstar 11N satellite and to complete the Telesat Canada transaction. In addition, Loral's total consolidated backlog at March 31, 2007 was $1.559 billion, compared to $1.347 billion at December 31, 2006 and $1.115 billion on March 31, 2006.

Mr. Michael Targoff, the Chief Executive Officer of Loral while speaking on the financial results stated, "Loral's results remain on course, carrying our success from 2006 into a solid first quarter in 2007. Our satellite manufacturing business, Space Systems/Loral (SS/L), continues to perform well, winning two awards during the quarter. SS/L has successfully expanded its market over the last year to capture opportunities in the growth of high-definition video services by direct-to-home service providers, mobile multimedia and communications platforms, and broadband data services – all applications that are driving satellite industry growth.”