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Telesat revenues dip to CAD 232 mln in Q1, profit falls on forex impact

Friday 4 May 2018 | 09:27 CET | News
Canadian satellite operator Telesat reported revenues of CAD 232 million in the first quarter compared to CAD 235 million a year earlier on the back of negative forex effects. Excluding the impact of the weaker US dollar against the Canadian dollar, revenues increased by 2 percent. The company also moved to loss in the quarter, posting a net loss of CAD 15 million compared to net income of CAD 88 million a year earlier, again attributing the CAD 103 million difference to higher non-cash loss on foreign exchange arising principally from the translation of Telesat's US dollar denominated debt

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Categories: Broadcast & Satellite
Companies: Telesat
Countries: World
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