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delayed 20 mins - disclaimerTuesday January 26, 4:29 am Eastern Time
Iridium LLC Q4 loss narrows
WASHINGTON, Jan 26 (Reuters) -
IRIDIUM LLC
(A Development Stage Limited Liability Company)
SELECTED FINANCIAL DATA
(Dollars in thousands except per Class 1 Interest data)
3 12
Mos Ended Mos Ended
Dec 31, 1998 Dec 31, 1998
Consolidated Statement of Loss Data:
Revenue $186 $186
Operating expenses 174,600 435,861
Depreciation and amortization 173,637 551,912
Interest expense, net 92,029 265,214
Net loss 440,080 1,252,801
Net loss applicable to Class 1 Interests
441,609 1,258,910
Net loss per Class 1 Interest 3.12 8.91
Weighted average interests used in
computing Net loss per Class 1 Interest
141,419,116 141,322,445
December 31, 1998
Consolidated Balance Sheet Data:
Cash and cash equivalents $24,756
Property and equipment -- net 3,584,208
Total assets 3,738,895
Bank debt 1,125,000
Long-term debt (net of discount) 1,729,219
Total Members' equity 477,163
NOTE: Iridium LLC reported a loss of $3.12 a share in the
fourth quarter ended Dec. 31, compared with a loss $0.93 a
share in the same period a year ago. That loss was much
narrower than Wall Street estimates for a loss of $3.46 a
share.
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