Revenues up but Q3 profit falls at Telesat

OTTAWA - Telesat saw third quarter consolidated revenues increase 8% to $238 million year-over-year, the global satellite operator reported this week. Revenue growth for the period ended September 30, 2013 was principally the result of revenue earned on the Anik G1 satellite, which entered into commercial service last May, and the provision of short-term satellite services to another satellite service provider. Operating expenses of $52 million were 4% ($2 million) higher than for the same period in 2012 related primarily to an increase in non-cash stock based compensation expense arising from additional stock options granted in 2013, partially offset by...