OTTAWA – Despite gains in consolidated revenues and adjusted EBITDA, Telesat Holdings posted a net loss of $39 million for its first quarter of 2009. The company announcement said that non-cash losses arising from foreign exchange were mainly to blame, as the non-cash foreign exchange loss for the quarter, related to the Company's US dollar denominated debt, was $101 million. Consolidated revenues and adjusted EBITDA for the quarter ended March 31, 2009, were $204 million and $143 million, respectively. Revenues rose by approximately 25% ($41 million) and adjusted EBITDA improved by 47% ($46 million) compared to 2008 first quarter results. The...
