Telesat Canada Posts Increase In Revenue, Earnings

By | August 1, 2003 | Uncategorized

Telesat Canada, a satellite operating subsidiary of BCE [NYSE: BCE], posted C$82.4 million (US$58.9 million) in second quarter revenue and net earnings of C$21.2 million (US$15.2 million), compared with C$77.8 million (US$55.6 million) in revenue and net earnings of C$16.8 million (US$12 million) in the second quarter of 2002.

During the quarter, Telesat Canada took over control of Mobile Satellite Venture‘s MSAT-2 satellite, decommissioned the Anik C1 satellite, leased an in-orbit satellite from PanAmSat [Nasdaq: SPOT] to be moved to Telesat’s 111.1 degrees West Longitude orbital position to provide interim capacity, and signed a navigational payload agreement with Lockheed Martin [NYSE: LMT] to provide a North American Wide Area Augmentation System (WAAS) beacon on Anik F1R, which is scheduled for launch in 2005.

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