08:17 AM EDT, 03/27/2025 (MT Newswires) -- Telesat ( TSAT ) , down 5.3% in U.S. premarket trading, on Thursday reported a swing to a fourth-quarter loss as revenue fell.

The satellites operator reported a net loss of $447 million, compared with a net income of $39 million for the same period of the previous year. The difference was due to foreign exchange impact on the Canadian dollar value of its U.S. dollar denominated debt and higher impairment charges on its orbital slots and satellites.

Consolidated revenue fell by about a quarter to $128 million, due to a rate and capacity reduction on the Nimiq 5 Dish contract renewal, lower enterprise revenues, and the sale of the company's Infosat business.

For 2025, Telesat ( TSAT ) expects full year revenue of between $405 million and $425 million.

Capital expenditure to be between $900 million to $1.1 billion, nearly all of related to Telesat Lightspeed.

The company's shares were last seen down US$1.10, to US$19.49, in New York trading.