BCE Inc. [NYSE: BCE] subsidiary Telesat Canada achieved a rare distinction for a satellite operator during the first quarter by posting growth in net income and revenue.

In a period of weak demand, Telesat Canada bucked the trend by lifting its net income during the first quarter to C$22.1 million (US$15.5 million), up 75.4 percent from C$12.6 million (US$8.9 million) during the first quarter of 2002. The earnings increase stemmed from higher revenues and lower amortization, operating and other expenses that were only partially offset by higher taxes, company officials said.

The company boosted its consolidated revenues to C$79.2 million (US$55.7 million), up 2.6 percent from C$77.2 million (US$54.3 million) for the same period last year.

Telesat Canada’s results are more diversified than most satellite operators because the company also provides consulting services. The company generates roughly 40 percent of its revenues from non-satellite services.

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