OTTAWA – Satellite service operator Telesat reported a net loss of $822 million for 2008, which it explained as a result of “non-cash losses arising from foreign exchange fluctuations and an impairment to intangible assets”. Consolidated revenues and adjusted EBITDA for the year ended December 31, 2008, were $711 million and $456 million, respectively, the press release detailed. Revenues rose by approximately 6% to $44 million, while adjusted EBITDA improved by 24% to $88 million, compared to 2007. "Telesat achieved all of its key financial and operating objectives in 2008 and, as a result, I am very pleased with our performance...
