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Comsat Corp

BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | March 25, 1997
Comsat Corp. announced its long-awaited restructuring plan yesterday, but instead of winning cheers from Wall Street, the news was met with a yawn.Bethesda-based Comsat said it plans to sell or spin off its 81 percent stake in money-losing Ascent Entertainment Group Inc. of Denver, which owns the National Basketball Association's Denver Nuggets and the National Hockey League's Colorado Avalanche in addition to the SpectraVision hotel movie-delivery business...
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BUSINESS
By Michael Dresser and Michael Dresser,Sun Staff Writer | April 22, 1995
Comsat Corp., the Bethesda-based communications satellite and entertainment company, reported the type of quarter that tests investors' patience yesterday, reporting a 28 percent earnings decline while insisting the company's long term plans are on course.First-quarter earnings came to $22.9 million, or 31 cents a share, down from $32 million in the same quarter a year ago, or 43 cents a share. Revenues rose 4 percent to $207.9 million, compared with $200.5 million in the first quarter last year.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 16, 1999
Comsat Corp., the satellite communications company that plans to be taken over by Bethesda neighbor Lockheed Martin Corp., said yesterday that its third-quarter earnings and revenue were down from last year.Comsat posted a net loss of $18.4 million, or 35 cents per diluted share, compared with net income of $6.6 million -- 12 cents per share -- in the comparable quarter of 1998. The earnings figures for the quarter that ended Sept. 30 were dragged down by one-time factors, including a $36 million write-off of its direct investment in ICO Global Communications Ltd. and $5.3 million in costs related to the pending acquisition by Lockheed.
BUSINESS
June 3, 1995
Utah lawyer favored for SECA veteran Utah lawyer is the apparent front-runner for a Republican seat on the Securities and Exchange Commission, which will have three vacancies at the end of the month.Sen. Orrin Hatch, R-Utah, is formally backing Norman S. Johnson, 64, of Salt Lake City to join the five-member commission, Hatch spokesman Paul Smith said yesterday. Mr. Johnson said Sen. Bob Dole, R-Kan., forwarded his name to President Clinton in a May 16 letter.Comsat considers stock saleComsat Corp.
BUSINESS
June 4, 1994
Auto sales up 2.9 percent in MayU.S. sales of cars and trucks during May rose 2.9 percent over a year earlier but slipped from their torrid pace in March and April as dealers ran short of a number of popular models, automakers said yesterday.Automakers sold a total of 1.35 million cars and trucks in the United States during May, up from 1.32 million a year earlier.But the seasonally adjusted annual sales rate for the month fell to 14.6 million units, down from 15.9 million in March and 15.3 million in April.
BUSINESS
August 5, 1995
Local publisher is purchasedAdvance Publications Inc. agreed to acquire American City Business Journals Inc., the publisher of 28 local weekly business newspapers including the Baltimore Business Journal, for about $268.8 million, the companies said yesterday.The agreement calls for Advance Publications, a privately held media company controlled by the Newhouse family, to pay $28 per share for American City Business Journals' 9.6 million common shares.Advance Publications owns 22 daily newspapers, the book publisher Random House, the New Yorker magazine and Conde Nast Publications, the publisher of magazines including Vogue, Vanity Fair and Architectural Digest.
BUSINESS
By Michael Dresser and Michael Dresser,SUN STAFF | April 20, 1996
Comsat Corp. reported lower earnings yesterday for the first quarter of 1996 even as it continued to hint at bluer skies ahead.The Bethesda-based satellite telecommunications company posted earnings of $9.3 million, or 19 cents a share, down from $14.6 million, or 31 cents a share, in the first quarter of 1995. Revenues increased to $245.7 million, an increase of $37.8 million over $207.9 million in the year-ago quarter, but a $41.8 million increase in costs more than offset the gains.Bruce L. Crockett, Comsat's president and chief executive officer, put a positive spin on the results.
BUSINESS
September 1, 1995
Comsat RSI wins state contractsComsat RSI, the manufacturing arm of Bethesda-based Comsat Corp., said yesterday that it has won two contracts worth a total of $8 million to provide satellite technology for two state governments' "distance learning" networks.The company said Virginia awarded it a contract to provide three digital "uplinks" for sending programming from the University of Virginia, Virginia Tech and Old Dominion University. The company will also provide "downlinks" for receiving programs at other locations.
BUSINESS
May 27, 1994
Law broadens fiduciary protectionA bill to give people with fiduciary investment powers further protection against lawsuits was signed into law by Gov. William Donald Schaefer yesterday. The so-called "Prudent Investor Rule" broadens the investment guidelines that are considered prudent for trustees and other fiduciaries who invest securities on behalf of another person.The bill, sponsored at the behest of the state banking industry, protects fiduciaries against lawsuits based on any individual investment decision, and instead requires the court to assess the performance of an entire portfolio.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | March 5, 1996
Comsat Corp. said yesterday that News Corp. Ltd. has terminated a $100 million contract with the Bethesda-based communications company for satellite capacity to distribute television programming from the United States and Brazil directly to homes throughout Latin America.Comsat spokeswoman Janet Dewar said the cancellation represents "a material" loss of business for the company. She said it was not Comsat's biggest contract, but it was one of its biggest in recent years.The termination of News Corp.
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