Cable & Telecom

Q1 profits tumble at Telesat

OTTAWA – The struggling Canadian dollar cut in to first quarter profits at Telesat, which fell more than $126 million from the same period in the prior year.For the quarter ended March 31, 2015, the global satellite operator reported a net loss of $154 million compared to net loss of $28 million year-over-year.  It said that results were negatively impacted by a non-cash loss on foreign exchange arising from the translation of Telesat’s U.S. dollar denominated debt into Canadian dollars as well as lower operating income.  The losses were partially mitigated by a higher gain on changes in the fair...