OTTAWA – Global satellite operator Telesat reported a 7% increase in consolidated revenue for its second quarter, driven in large part to the launch of its newest satellite into commercial service in May, the company announced Thursday.
For the quarter ended June 30, 2013, Telesat reported consolidated revenues of $216 million, an increase of $14 million compared to the same period in 2012.
Adjusted EBITDA was $172 million, an increase of 10%, or $16 million, over the same period in 2012.
Year to date consolidated revenues were at $435 million, an increase of $37 million or approximately 9% compared to the same period in 2012. Telesat attributed the growth to the addition of the Nimiq 6 satellite in 2012, as well as the addition of the Anik G1 satellite in 2013, and higher equipment sales.
Telesat’s net profit for the quarter was $15 million compared to a net loss of $244 million for the quarter ended June 30, 2012. For the six month period ended June 30, 2013, the net loss was $83 million, compared to a net loss of $145 million in 2012.
“I am very pleased with the meaningful growth in revenue and adjusted EBITDA we achieved in the second quarter compared to the same period last year,” said Dan Goldberg, Telesat's president and CEO, in a release. “In light of our strong growth in the first half of the year, the recent entry into service of our Anik G1 satellite, and our industry-leading contractual backlog, we are well positioned to continue to grow our business this year and beyond.”
The company also announced that it had contracted with Astrium SAS to procure a multi-mission satellite that will replace and expand on Telstar 12 at 15 degrees West.
The new satellite, which Telesat expects to launch in late 2015, will meet the growing needs of broadcast, corporate, government and enterprise users, including demand for aero and maritime services. It will provide coverage of coverage of Europe, the Americas, the Middle East, Africa, the Caribbean, North Sea, Mediterranean and South Atlantic regions.
