ComsatCommunications Satellite Corp., a Washington, D.C.-based communications...



Communications Satellite Corp., a Washington, D.C.-based communications company, reported consolidated earnings of $12.3 million, or 65 cents a share, for the third quarter ending Sept. 30, a decrease from the $20.1 million, or $1.08 a share, the company earned in the same 1989 quarter.

The video entertainment division, which last year purchased the Denver Nuggets, a professional basketball team, reported an operating loss of $6.5 million for the quarter, bringing total losses for the division to $19 million for the nine months. Comsat said other income declined during the quarter because of operations of the Nuggets partnership and interest associated with a favorable tax settlement in 1989.

Copyright © 2020, The Baltimore Sun, a Baltimore Sun Media Group publication | Place an Ad