Loral to Host Conference Call, Announces Plans for Future Shareholder Communications
NEW YORK, Aug. 8, 2012 (GLOBE NEWSWIRE) -- Loral Space & Communications (Nasdaq: LORL) invites shareholders, analysts and professional investors to participate in a conference call on Monday, August 13, 2012 with Loral Chief Executive Officer Michael B. Targoff, to discuss the company's status and plans for future shareholder communications.
On June 26, 2012, Loral announced that it had entered into a definitive agreement to sell its manufacturing division, Space Systems/Loral, to MacDonald, Dettwiler and Associates Ltd. As a result of the transaction and the more simplified corporate reporting structure, Loral does not expect to routinely issue earnings press releases or hold quarterly conference calls. For detail on Loral's equity investment in Telesat, investors are advised to follow Telesat's investor communications.
Pertinent information about Loral, such as corporate expenses, cash requirements, and strategic activity, will be available to investors in the 10-K and 10-Q reports filed with the Securities and Exchange Commission (SEC), and any material developments will also be the subject of SEC filings or separate press releases as appropriate. Loral's second quarter earnings report will be filed on August 9, 2012.
The conference call will begin at 4:00 pm ET on Monday, August 13, 2012.
Date: August 13, 2012
Time: 4:00 PM ET
Listen via Internet: http://investor.loral.com/
Schedule this webcast into MS-Outlook calendar (click open when prompted):
Telephone: (973) 200-3060
Toll-free: (877) 831-3841
To participate, please dial (973) 200-3060 or toll free at (877) 831-3841 approximately ten minutes prior to the scheduled start of the call. A listen-only web cast of the call is available on the Investor Relations section of Loral's web site (http://investor.loral.com/events.cfm) under "Events & Presentations." A replay of the web cast will be available for 30 days.
About Loral Space & Communications Inc.
Loral Space & Communications is a satellite communications company. It owns 64 percent of Telesat, a global operator of telecommunications and direct broadcast satellites used to distribute video entertainment programming, broadband data, and provide access to Internet services and other value-added communications services. On June 26, 2012, Loral announced that it had entered into a definitive agreement to sell its manufacturing division, Space Systems/Loral, to MacDonald, Dettwiler and Associates Ltd. The closing of the transaction is subject to regulatory and other customary closing conditions. For more information, visit Loral's web site at www.loral.com.
This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc. or its representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to our financial statements in the current Form 10-K and in Loral's quarterly reports on Form 10-Q. The reader is specifically referred to these documents, as well as the Company's other filings with the Securities and Exchange Commission.
Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including swings in the global financial markets, financial covenants in SS/L's credit agreement, increases in interest rates and access to capital; (2) risks associated with satellite manufacturing, including competition, cyclicality of SS/L's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) risks associated with satellite services, including dependence on large customers, launch delays and failures, in-orbit failures and competition; (4) regulatory risks, such as the effect of U.S. export control and economic sanction laws; (5) risks related to the proposed sale of SS/L, including the effect on the business of SS/L prior to the consummation of the sale and the ability to satisfy the contractual conditions to closing the sale, including the receipt of regulatory approval; and (6) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond Loral's control.