PALO ALTO, Calif., June 21, 2011 (GLOBE NEWSWIRE) -- Space Systems/Loral (SS/L) has been named a Top-Performing Company (TPC) by Aviation Week, acknowledging SS/L as the leader in the Space Systems category, based on revenue for the 2010-11 fiscal year. SS/L will be honored at the Paris Air Show during the TPC awards ceremony on June 22 in Aviation Week's Chalet D44.
In addition to the award for the satellite manufacturing business, in the overall Aerospace & Defense Rankings, parent company Loral Space & Communications was second in its revenue category, which included 30 top performers. Loral also ranked number one among the 29 companies in the 2011 Five-Year Most Improved category and was number two in the "Increase in Operating Profit" category.
Aviation Week's highly regarded TPC study identifies relative strengths and weaknesses in aerospace and defense companies' operational performance and evaluates how well they are executing business strategies. For the first time this year, the TPC rankings take a look at unit-level operations, which was why Loral Space & Communications' manufacturing unit, SS/L could be recognized.
"It is a privilege to be acknowledged by Aviation Week for our outstanding financial performance," said John Celli, president of Space Systems/Loral. "As the world's leading provider of geostationary commercial satellites, we have built up a very healthy backlog, and hard work and discipline have resulted in steady improvements.
"However, our rewards are not merely financial," Mr. Celli continued. "The employees at Space Systems/Loral feel gratified by the contribution we make to expanding satellite infrastructure for communications and vital services around the world and for superior technical achievements exemplified by state-of-the-art broadband satellites."
Complete rankings of 117 business segments, as well as the full TPC study results, interactive charts, historical performance metrics, and exclusive content, are available on the Aviation Week Intelligence Network (AWIN), Aviation Week's industry-leading business development and intelligence tool. The study's proprietary metrics have been refined over the past 15 years with input from industry leaders to include scores in four equally weighted performance categories: return on invested capital, earnings momentum, asset management, and financial health. The data and rankings are a frequently cited industry baseline for determining which companies are likely to flourish and those that are vulnerable.
To read the articles, methodology and complete rankings, visit Aviation Week's website at or become an AWIN subscriber at .
About Space Systems/Loral
Space Systems/Loral, a subsidiary of Loral Space & Communications (Nasdaq:LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. For more information, visit .
The Space Systems/Loral logo is available at
About Loral Space & Communications
Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. Loral also owns 64 percent of Telesat, one of the world's largest providers of satellite services. Telesat operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. For more information, visit Loral's Web site at . LORL-G
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., Space Systems/Loral, Inc. or their 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 the financial statements in Loral's 2010 annual report on Form 10-K filed March 15, 2011. The reader is specifically referred to this document, 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) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L.
CONTACT: Media Contact: Wendy Lewis Space Systems/Loral +1 (650) 852-5188