Telesat reported a profit of 22.9 million Canadian dollars ($20.6 million) in the 2007 first quarter, up from $21.6 million ($19.5 million) in the same period a year ago, the company announced May 2.

Operating revenue was 121.6 million Canadian dollars ($109.6 million), a 3 percent increase from the 2006 first quarter.

Separately, Telesat has initiated commercial services on its Anik F3 satellite. The satellite, built by EADS Astrium, provides capacity throughout North America and also carries a Ka-band payload to supplement services being carried on the Anik F2 satellite. Anik F3’s Ku-band capacity has been pre-sold to EchoStar for direct-to-home distribution in the United States.

In December, Telesat and Loral Space & Communications Inc. announced they would combine their satellite operations, creating the fourth largest operator in the world.