Telesat(TSAT) - 2021 Q4 - Annual Report

For the year ended December 31, 2021, net income was $158 million, compared to$246 million for 2020. The decline was the result of lower revenues, higher (mostly non-cash) operating expenses, and an increase in tax expense, driven by lower deferred tax recovery in 2021, partially offset by recognition of Phase I accelerated clearing payments for repurposing of U.S. C-band spectrum. Exhibit 99.1 Telesat Reports Results for the Quarter and Year Ended December 31, 2021 OTTAWA, CANADA - March, 18, 2022 –Telesa ...