Satellite communications company Loral Space & Communications, Inc., having a 64 percent interest in Telesat Canada (LORL) Thursday reported a steep drop in profit for the fourth quarter in spite of a revenue rise, as other operating gains fell significantly, further exacerbated by a loss on foreign exchange versus a gain last year.
For the period, the company posted net income of C$56.02 million, down from C$241.81 million last year.
Revenue however, increased to C$228.09 million from C$204.73 million last year, driven in part by Nimiq 6 and the Canadian payload on ViaSat-1.
The company enjoyed other operating gains of C$6.02 million compared with C$114.91 million last year.
Also, the firm reported loss on foreign exchange of C$19.77 million versus a gain of C$78.47 million last year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.