Comsat reports $6.4 million loss, takes a charge

Article Abstract:

Communications Satellite Corp (Comsat) loses $6.4 million, or 33 cents per share, on revenue of $146 million for the 3rd qtr. While the company realized record revenue for the period, a $23.4 million restructuring charge to cover the consolidation of its systems division with its research unit, Comsat Laboratories resulted in an overall loss for the quarter. Without the restructuring charge, Comsat would have reported a profit of $17 million, 87 cents per share. According to company officials, the reorganization will streamline Comsat's operations and increase its competitiveness. As a result of the reorganization, Comsat will cut approximately 300 jobs, or 18 percent of its work force, through early retirements, layoffs and attrition. Comsat held a monopoly on satellite communications at one time, but changes in Federal Communications Commission regulations have opened the market to international competition.

Communication services, not elsewhere classified, Business consulting, not elsewhere classified, Satellite communications, CQ, Satellite communications services industry, Reorganization, Third Quarter, Losses, Work Force Reduction, Communications Satellite Corp.

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Century, cable, cellular firm, sees advances

Article Abstract:

Bernard P. Gallagher, president and chief operating officer of Century Communications Corp, says he expects continued increases in the company's revenue and operating cash flow in the final two quarters of FY 1993. Net losses for the first two quarters, ending Nov 30, 1992, were $17.4 million, or 26 cents per share, an improvement from losses of $41 million, or 55 cents per share, in the comparable period in the previous year. Revenue for the 1992 period grew 13 percent, to $170.4 million. Cash flow, a key measure in the cable industry, grew 20 percent, from $79.8 million to $95.4 million, while operating expenses only grew by 6 percent. For FY 1992, ending May 30, Century posted a net loss of $66 million, or $1.01 per share, on $312.3 million in revenue. Century derives 88 percent of its revenue from 55 cable systems in the United States and Puerto Rico.

Cable and other pay TV services, Cellular telephone services industry, Cellular telephone services, Internet services, Cable television, Outlook, Increase, Cable Television/Data Services, Second Quarter, First Quarter, Century Communications Corp.

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LIN Broadcasting shares are jolted in heavy trading

Article Abstract:

LIN Broadcasting Corp's shares are swinging violently in national over-the-counter trading, but analysts say the decline is not related to its pending acquisition by McCaw Cellular Communications Inc, which is considered a definitive agreement. At one point, LIN stock was down as much as $8.25 a share, but recovered to close at $105.50, down $2.25. LIN states it knows of no reason for the decline, but it comes after the announcement of an expected fourth-quarter loss due to a previously disclosed settlement with Bell South Corp to pay 'termination costs'. In the same statement, LIN states it expects record operating results for the quarter. Analysts say the fluctuation has more to do with general skittishness in the market and that overall cellular stocks are down roughly 20 percent for the month.

Telecommunications services industry, Telecommunications industry, Securities, Stock markets, Cellular Radio, Stock Market, Stock, LIN Broadcasting Corp., LINB

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