OTTAWA – Satellite operator Telesat today reported consolidated revenue of $190 million in the first quarter of the year, a decrease of 9% compared to the same period in 2020. Adjusted for foreign exchange rate changes, revenue declined 6%. “The largest single contributor to the decrease, excluding the impact of foreign exchange rate changes, was the adverse impact the Covid-19 pandemic has had on certain customers serving the commercial airline and cruise industries,” reads the company’s press release. Operating expenses of $40 million for the quarter ended March 31st were 12% lower than the same period in 2020. “The decrease...
