Telesat Canada, a wholly owned subsidiary of BCE Inc., set quarterly records for revenue and earnings, the company reported.

Operating revenues for the second quarter 2005 were Cdn. $137.3 million ($112.9 million), up 62 percent from the Cdn. $85 million ($69.9 million) revenues reported in the second quarter 2004. Earnings applicable to common shareholders increased 35 percent to Cdn. $26.3 million ($21.6 million) in the second quarter 2005, compared to the same period a year ago.

Telesat said cash flows from operating activities were Cdn. $79.6 million ($65.5 million) for the first half of 2005, down from Cdn. $88.2 million ($72.5 million) during the first half of 2004. The company attributed the decrease to a one-time payment of income taxes and to a significant increase in accounts receivable associated with the rollout of a North American interactive distance learning network.