Ottawa’s Telesat had a “solid” third quarter with revenues of $242 million, CEO Dan Goldberg said Thursday.
“Although revenuegrew on a reported basis relative to the third quarter last year, it declined one per cent after taking foreign exchange rate changes into account,” Mr. Goldberg said in a statement. “Nonetheless, we achieved a reduction in operating expenses, a slight increase in Adjusted EBITDA,an expansion of our adjusted EBITDA margin and continued to generate a significant amount of cash from our operating activities.”
Telesat’s operating expenses, at $44 million, were 10 per cent lower than the same period last year, or 16 per cent lower when adjusted for foreign exchange rates. The decrease was related to lower share-based compensation expense, lower bad debt expense and lower cost of equipment sales, the company said.
OBJ360 (Sponsored)
A new strategic affiliation between Stratford Intellectual Property and North IP aims to enhance the ways Canadian companies protect, manage, and utilize their intellectual assets. This collaboration combines Stratford’s expertise
Celebrating 10 Years of Numbercrunch: Lessons in appreciation and advice for 2025
This year, Numbercrunch celebrates a significant milestone—10 years in business. Reaching this milestone has given me an opportunity to reflect on the journey, the lessons learned, and, above all, the
The firm’s adjusted EBITDA of $198 million was up nine per cent year-over-year, or one per cent with foreign exchange rates taken into consideration. Telesat’s adjusted EBITDA margin increased to 81.9 per cent from 79.9 per cent for the same quarter last year.
A weaker Canadian dollar played a significant role in the company’s quarterly net loss rising to $139 million from the $41 million it posted in the same quarter last year.
