Tax changes see 63% jump in earnings at Telesat; F3 delayed

OTTAWA – Canadian satellite owner-operator Telesat posted net earnings applicable to common shares of $43 million in the second quarter of 2006, ended June 30th, 63% higher than the second quarter of 2005.This is largely due to lower enacted future tax rates and the elimination of the large corporations tax in 2006, said the company. Due to the major one-time sale of an IDL network in the second quarter of 2005, Telesat's second quarter operating revenue of $119.6 million represented a 13% decrease from $137.3 million in the same period last year. Excluding the one-time sale in the second quarter...