[08-05-11] Telesat\u2019s<\/b> 2011 second quarter results showed minimal change from the company\u2019s performance in the same period last year, however, the lackluster results also had Telesat CEO Dan Goldberg break his sustained silence regarding rumors of a potential takeover of the Canadian FSS operator.<\/p>\n
While issuing the company\u2019s latest results during an Aug. 4 press conference, Goldberg confirmed that the operator received offers from potential buyers and that discussions between interested parties and Telesat board members had taken place. While Goldberg declined to identify the bidders or confirm recent media reports that Echostar Corp.<\/b> and Carlyle Group<\/b> offered at least $6 billion for the acquisition, he did admit that the Telesat board eventually rejected the offers and terminated discussions.
\n Telesat buyout rumors stemmed from a decision announced last year by Telesat majority owner Loral Space & Communications<\/b> to explore selling all or part of its stake in the operator. In a separate statement, Loral said the company is now focusing on spinning off Loral satellite manufacturing subsidiary SS\/L in light of the results of Telesat\u2019s sell-off negotiations.
\n When asked whether Telesat would seek an initial public offering, Goldberg said the operator\u2019s more important focus rests on recapitalization. \u201cAs far as when we would come to a conclusion in terms of when we\u2019re going to do that, it\u2019s harder to say, so I\u2019d rather not speculate about when we might complete that analysis,\u201d he said.
\n In its financial results for the three-month period ending June 30, Telesat reported a 2 percent decrease in consolidated revenues at $200 million, but revenues remained relatively unchanged compared with the same period in 2010 when adjusting for foreign exchange rate changes during the period. The operator\u2019s adjusted EBITDA fell 1 percent to $155 million, which Telesat also blamed on the strength of the Canadian dollar against the U.S. dollar. Telesat\u2019s second-quarter operating income increased 2 percent to $95.6 million.
\n Goldberg said Telesat is now preparing for the launch of its ViaSat-1 satellite in two months. Telesat purchased the Canadian coverage of the broadband satellite from Loral to provide rural broadband services to Barrett Xplore<\/b> via the satellite\u2019s antenna.
\n \u201cWe successfully launched Telstar 14R in the quarter and, notwithstanding an anomaly in the deployment of one of its solar arrays, we currently expect the satellite will give us expansion capacity in the key Latin America and maritime markets to support our planned growth. At this time, we remained focused on the launch in a few months\u2019 time of the ViaSat-1 satellite, as Telesat owns the satellite\u2019s Canadian payload, and achieving our full-year financial and operational objectives,\u201d said Goldberg.<\/p>\n","protected":false},"excerpt":{"rendered":"
[08-05-11] Telesat\u2019s 2011 second quarter results showed minimal change from the company\u2019s performance in the same period last year, however, the lackluster results also had Telesat CEO Dan Goldberg break his sustained silence regarding rumors of a potential takeover of the Canadian FSS operator. While issuing the company\u2019s latest results during an Aug. 4 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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-84433","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84433"}],"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=84433"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84433\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}