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From Times Wire Services
Comsat said its second-quarter earnings fell 74% and that its chief executive has resigned. The company is struggling to manage its diverse satellite communications and sports businesses. Succeeding Comsat Chief Executive and President Bruce Crockett is Betty Alewine, who led its international business.
Net income fell to $5.8 million, or 12 cents a share, from $22 million, or 46 cents, a year ago. Wall Street expected profit of 22 cents.
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