Telesat Q3 up 4%

Telesat has published its financial results for the three and nine-month periods ended September 30th 2019.

The Canadian satellite comms company reported consolidated revenue of C$237 million (€187.2m), an increase of 4 per cent compared to the same period in 2018. The increase was due to higher revenue related to the Telstar 19 VANTAGE and Telstar 18 VANTAGE satellites, which entered into commercial service in August 2018 and October 2018, respectively, combined with an increase from short-term services provided to other satellite operators. Operating expenses of C$38 millionfor the quarter were 6 per cent lower than the same period in 2018. The decrease was primarily related to lower cost of sales and other expenses offset by higher compensation expenses.

Source: Telesat Q3 up 4%