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Telesat Reports Revenue Increases For Second Quarter

By | August 2, 2007

      Telesat Canada, a wholly owned subsidiary of BCE Inc., posted increases in both revenue and profitability, the company announced Aug. 1.

      For the second quarter ending June 30, Telesat’s second quarter operating revenue of 161.4 million Canadian dollars ($151.7 million) marked a 35 percent increase from 119.6 million Canadian dollars ($112.4 million) in the same period of 2006.

      Among highlights for the Ottawa-based company, which owns and operates satellites serving the Americas and providing a range of consulting services, were the launch of the Anik-F3 satellite with commercial Ku- and C-band services commenced on May 1; a launch agreement for Nimiq 5 with International Launch Services (ILS) signed in April; an agreement with MacDonald, Dettwiler and Associates Ltd. for pre-operational and satellite operation services for the low-Earth orbit Radarsat-2 satellite; and five new spectrum licenses granted by Canada’s Minister of Industry.

      Last December, BCE Inc. announced the sale of the satellite operator for 3.25 billion Canadian dollars ($3.05 billion), net of debt, to a new acquisition company formed by Canada’s Public Sector Pension Investment Board (PSP Investments) and Loral Space & Communications Inc. (Loral). The purchase is pending approval by Canadian regulatory authorities.

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