Loral ups 2002 cash/credit guidance to $100 million
Tuesday August 6, 5:21 pm Eastern Time
Reuters Company News
WASHINGTON, Aug 6 (Reuters) - Satellite communications firm Loral Space & Communications Ltd. (NYSE:LOR - News) upped its guidance for year-end cash and available credit to $100 million, from previous expectations of $80 million to $90 million, according to a regulatory filing made on Tuesday.
Loral, which sells satellites and satellite services, also said it expected to further increase its earnings before interest, taxes, depreciation and amortization by $30 million through 2003.
In July, the firm said full year EBITDA expectations would be between $210 million to $215 million.
The New York-based company said its plan to complete and launch three satellites calls for total 2002-2003 expenditures of $236 million. Other capital spending is running about $35 million each year, it said.
The plan calls for net positive cash flow from receivables, inventories, launch deposits and payables to be $128 million in 2002 and $24 million in 2003, the firm said in the filing with the U.S. Securities and Exchange Commission. |
