Loral’s 1st-Quarter Loss Widens

Loral Space & Communications Ltd.’s first-quarter loss widened because of a decline in the value of some assets of the satellite communications company..

The loss grew to $866.7 million, or $2.61 a share, from $59 million, or 25 cents, a year earlier. Sales rose 18% to $308.2 million, the New York-based company said.

Excluding costs for goodwill accounting, Loral would have lost $31.8 million, or 9 cents a share, compared with a loss of $73.4 million, or 25 cents, a year earlier. On that basis, the company was expected to lose 13 cents a share.

Loral shares rose 4 cents to close at $1.99 on the New York Stock Exchange.