Telesat Canada reported a profit of 43 million Canadian dollars ($38 million) in the 2006 second quarter, compared to earnings of 26.3 million ($23.2 million) in the same period in 2005, the company announced Aug. 2. Telesat Canada attributed the gains to lower tax rates and the elimination of the large corporations tax.

Revenues declined throughout the same period, falling from 137.3 million Cdn ($121.3 million) in the second quarter of 2005 to 119.6 million ($105.7 million) in the most recent three months.