Q2 profits at Telesat hit $148M; new Latin America expansion plans announced

OTTAWA – Despite a decline in second quarter revenues, Telesat saw profits rise by $86 million in the period ended June 30, 2017.Reported consolidated revenues of $226 million declined 3% ($6 million) year-over-year, primarily due to short-term services provided to another satellite operator in the second quarter of 2016, partially offset by favorable foreign exchange rate changes on the conversion of U.S. dollar revenue, as the U.S. dollar was approximately 5% stronger on average against the Canadian dollar than it was during the second quarter of 2016. Excluding the impact of foreign exchange rate changes, revenue decreased by 5% ($12...