Telesat CEO lauds Q4’s “solid results” as profits bounce back to black

OTTAWA – Telesat ended fiscal 2017 on high note with gains in both revenues and profits.For the fourth quarter ended December 31, 2017, Telesat reported revenues of $252 million, an increase of approximately 5% ($12 million) compared to the same period in 2016. After adjusting for the impact of changes in foreign exchange rates, revenue increased by 7% ($18 million) year-over-year, primarily driven by short-term services provided to other satellite operators. Telesat’s net income for the quarter was $72 million compared to a loss of $21 million for the quarter ended December 31, 2016. The variation was primarily due to lower...