Earnings Per Share

3 Months Ended

Mar. 31, 2014

11. Earnings Per Share

Telesat has awarded employee stock options, which, if exercised, would result in dilution of Loral’s ownership interest in Telesat to approximately 62.0%. Telesat stock options are excluded from the calculation of diluted loss per share for the three months ended March 31, 2014 and 2013, as the effect would be antidilutive.

For the three months ended March 31, 2014 and 2013, the following unvested restricted stock units are excluded from the calculation of diluted loss per share as the effect would have been antidilutive (in thousands):


	Three Months Ended March 31,
	2014		2013
Unvested restricted stock units		84		254

- Definition

The entire disclosure for earnings per share.

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