Telesat's 2019 revenue flat, net income up

OTTAWA — Telesat’s full-year 2019 consolidated revenue grew 1% to $911 million, compared to its 2018 fiscal year. When adjusted for changes in foreign exchange rates, Telesat’s 2019 revenue was unchanged compared to the previous year. The slight revenue increase was attributable to the company’s Telstar 19 Vantage and Telstar 18 Vantage satellites, which were launched in 2018, as well as revenues earned from short-term services to other satellite operators, Telesat said in the news release. These increases were offset by lower equipment sales, a reduction of service for an unnamed customer in the broadcast segment, lower revenue due to...