Revenue and earnings up at Telesat

OTTAWA – Soon-to-be spun-off satellite operator Telesat posted record highs in revenue and earnings in 2005, the company reported Friday.Bell Canada Enterprises, which owns Telesat, announced last month it plans to do an initial public offering on the satellite subsidiary some time in 2006, as previously reported.Telesat's 2005 consolidated operating revenue of $474.7 million represented a 31.1% increase over 2004. The company posted net earnings applicable to common shares of $88.9 million, 6.6% higher than the previous record of $83.4 million set in 2004. Cash flow from operating activities came in at $203.9 million for the year compared with $185.3...