TSAT FY 2017 Earnings Report — Telesat Corporation Revenue & Financial Results | Market Cap Arena

Telesat CorporationTSAT

FY 2017 Earnings

Reported December 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$678M	—	$680M	—	-0.4%
Op. Income	$355M	—	$363M	—	-2.0%
Gross Margin	79.8%	—	81.2%	—	-1.4pp
Net Margin	54.5%	—	31.5%	—	23.0pp
EPS (Diluted)	$3.08	—	$1.79	—	72.2%
Free Cash Flow	$249M	—	$207M	—	19.9%

Revenue Flow

Item	Amount
REVENUE	$678M
Cost of Revenue	$137M
GROSS PROFIT	$541M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5M
Other Expenses	$0
Operating Expenses	$27M
Cost & Expenses	$164M
OPERATING INCOME	$355M
Interest Income	$139M
Interest Expense	$0
Other Income/Expenses	$64M
INCOME BEFORE TAX	$428M
Income Tax Expense	$59M
Net Income from Continuing Ops	$369M
Net Income from Discontinued Ops	$0
Other Adjustments	-$7.3K
NET INCOME	$369M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$369M
D&A	$181M
EBIT	$355M
EBITDA	$536M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$678M
Cost of Revenue	$137M
GROSS PROFIT	$541M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5M
Other Expenses	$0
Operating Expenses	$27M
Cost & Expenses	$164M
OPERATING INCOME	$355M
Interest Income	$139M
Interest Expense	$0
Other Income/Expenses	$64M
INCOME BEFORE TAX	$428M
Income Tax Expense	$59M
Net Income from Continuing Ops	$369M
Net Income from Discontinued Ops	$0
Other Adjustments	-$7.3K
NET INCOME	$369M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$369M
D&A	$181M
EBIT	$355M
EBITDA	$536M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$369M
Depreciation & Amortization	$181M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	-$226M
Change in Working Capital	$30M
OPERATING CASH FLOW	$356M
Capital Expenditure	-$107M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$13M
NET CASH FROM INVESTING	-$120M
Net Debt Issuance	-$23M
Common Stock Repurchased	-$370M
Common Dividends Paid	-$7.3K
Other Financing Activities	-$37M
NET CASH FROM FINANCING	-$430M
FREE CASH FLOW	$249M
Net Change in Cash	-$222M

Balance Sheet

Item	Amount
Cash & Equivalents	$350M
Short-Term Investments	$118.4K
Net Receivables	$43M
Inventory	$2M
Other Current Assets	$8M
TOTAL CURRENT ASSETS	$406M
PP&E (Net)	$1.3B
Goodwill	$1.8B
Intangible Assets	$594M
Long-Term Investments	$14M
Tax Assets	$0
Other Non-Current Assets	$53M
TOTAL NON-CURRENT ASSETS	$3.8B
TOTAL ASSETS	$4.2B
Account Payables	$2M
Short-Term Debt	$11M
Deferred Revenue	$0
Other Current Liabilities	$95M
TOTAL CURRENT LIABILITIES	$114M
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$632M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$3.3B
Common Stock	$112M
Additional Paid-In Capital	$0
Retained Earnings	$708M
Treasury Stock	$0
Accum. Other Comp. Income	$16M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$835M
Minority Interest	$0
TOTAL EQUITY	$835M
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$2.6B
Net Debt	$2.2B