Loral satellites for Globalstar Network lost in explosion after Russian launch

Article Abstract:

Globalstar Telecommunications Ltd. and Loral Space and Communications Ltd suffered a setback with the loss of 12 Loral-built satellites for Globalstar's mobile-phone system. The $160 million satellites were launched in Russia by a Ukrainian-made Zenit 2 rocket which failed about 5 minutes after liftoff. The explosion will delay the startup of the Globalstar network for at least a few months and some analysts predict a competitive disadvantage against Iridium LLC. Despite insurance, the accident will cost Globalstar $185 million and bring 1999 revenue down $300 million, according to the firm's own projections.

Comment:

Loses the first 12 rockets for its mobile-phone system when launch rocket explodes in Russia

Cellular and Other Wireless Telecommunications, Facilities & equipment, Mobile Radio Services, Communications Satellites, Guided Missile and Space Vehicle Manufacturing, Russia, Wireless communications services, Loral Space and Communications Ltd., Globalstar Telecommunications Ltd., Soyuz rockets, Zenit 2, commercial satellites

---

Psion profit is flat as palm-top line posts a drop in sales

Article Abstract:

Psion PLC reported low earnings for the first-half of 1998 due to falling palm-top computer sales. The company said that it saw a 1.5% increase in its pretax profits for the first-half to 4.11 million pound sterling ($6.9 million). During the same period in 1997, Psion posted pretax profits of 4.05 million pound sterling. The company's first-half sales did rise 15% to 74.3 million pound sterling.

Comment:

Reports low earnings for the first-half of 1998 due to falling palm-top computer sales

United Kingdom, Electronic Computer Manufacturing, Sales, profits & dividends, Computers & Auxiliary Equip, Psion PLC

---

Similar abstracts:

• Abstracts: U.S. may fight satellite-TV license sale: Primestar seeking slot now held by A Sky B. Microsoft scraps software deal that Justice Dept. sued to halt; move into electronic commerce will be slowed
• Abstracts: Utilizing forecast information to drive Solutia's supply chain. Evolution in the demand and supply planning at Dow Corning
• Abstracts: The City of Westminster Housing Department: innovation and the management of change
• Abstracts: Bill would allow foreign banks in Del. Home sales strong, despite a dip
• Abstracts: Sale is very beneficial for its CEO. Banking on a community. First Union out to smooth feathers

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.