{"id":65299,"date":"2018-05-03T17:42:48","date_gmt":"2018-05-03T09:42:48","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/big-fall-in-operating-expenses-for-telesats-q1-2018-2\/"},"modified":"2018-05-03T17:42:48","modified_gmt":"2018-05-03T09:42:48","slug":"big-fall-in-operating-expenses-for-telesats-q1-2018-2","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/big-fall-in-operating-expenses-for-telesats-q1-2018-2\/","title":{"rendered":"Big Fall in Operating Expenses for Telesat\u2019s Q1 2018"},"content":{"rendered":"<\/p>\n<p><strong>Telesat Canada<\/strong> has announced its financial results for the three-month period ended March 31 under International Financial Reporting Standards (IFRS).<\/p>\n<p>The company reported consolidated revenues of CA$232 million ($251.2 million), compared to CA$235 million ($182.8 million) in the same period in 2017.&nbsp;Operating expenses of CA$38 million ($29.6 million) for the quarter were 31 percent lower than the same period in 2017.&nbsp;The decrease in operating expenses was primarily due to a decrease in compensation and employee benefits expense arising from a special payment of CA$12 million ($9.3 million) made during the first quarter of 2017 to stock option holders in connection with a return of capital to Telesat\u2019s shareholders.<\/p>\n<p>Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was CA$195 million ($151.7), an increase of 1 percent compared to the same period in 2017. The Adjusted EBITDA margin&nbsp;was 83.9 percent, compared to 81.9 percent in the same period in 2017.<\/p>\n<p>On Jan. 1, Telesat adopted IFRS 9, Financial Instruments, and IFRS 15, Revenue from Contracts with Customers. For the three-month period ended March 31, the adoption of IFRS 15 had a net positive impact of approximately CA$4 million ($3.1) on revenues, a reduction of approximately CA$5 million ($3.9) on operating expenses and a positive impact of approximately CA$9 million ($7 million) on Adjusted EBITDA. The adoption of IFRS 9 had no impact on revenues, operating expenses and Adjusted EBITDA.<\/p>\n<p>Telesat\u2019s net loss for the quarter was CA$15 million ($11.7 million) compared to net income of CA$88 million ($68.5) for the first quarter of 2017. The difference was the result of a higher non-cash loss on foreign exchange arising principally from the translation of Telesat\u2019s US dollar denominated debt into Canadian dollars in the first quarter of 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telesat Canada has announced its financial results for the three-month period ended March 31 under International Financial Reporting Standards (IFRS). The company reported consolidated revenues of CA$232 million ($251.2 million), compared to CA$235 million ($182.8 million) in the same period in 2017.&nbsp;Operating expenses of CA$38 million ($29.6 million) for the quarter were 31 percent lower [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48330,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-65299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65299"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=65299"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/48330"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=65299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=65299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=65299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}