09:48 AM EST - Telesat : Announced its financial results for the three-month period ended March 31, 2023. Telesat reported consolidated revenue of $183 million for the quarter, a decrease of 1% ($2 million) compared to the same period in 2022. When adjusted for changes in foreign exchange rates, revenue declined 5% ($9 million) compared to 2022. The decrease was mainly due to a reduction of revenue from one of Telesat’s North American DTH customers, partially offset by higher equipment sales to Canadian government customers combined with increased services provided to aero and maritime customers. For the quarter ended March 31, 2023, Telesat’s net income was $29 million compared to net income of $61 million for the same period in the prior year. Telesat
shares T.TSAT are trading unchanged at $11.64.
