Cable / Telecom News

Telesat reports downturn in profits, revenue

OTTAWA – Revenue and profits at Telesat both dropped in 2011, pulled down in part by foreign exchange rate changes. For the year ended December 31, 2011, consolidated revenue was $808 million, down 2% ($13 million) from 2010, though when adjusted for foreign exchange rate changes, revenue increased by 1% ($6 million).  Net income for the year dropped to $237 million from $286 million for the prior year. The satellite operator attributed the $49 million variation as primarily due to a net decrease of $133 million in non-cash items.  Adjusted EBITDA for the year was $623 million, an increase of 1% ($4...