ATN reports a net income of $341,764 on revenues of $6,328,959 for the 3 months ended March 31, 2014 - CW15 - OMAHA

ATN reports a net income of $341,764 on revenues of $6,328,959 for the 3 months ended March 31, 2014

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Asian Television Network International Limited

TORONTO, May 23, 2014 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its first quarter 2014 consolidated financial and operating results for the 3 months ended March 31, 2014, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results
Three months ended March 31, 2014 and March 31, 2013.

Throughout this MD&A, percentage changes are calculated using numbers rounded as they appear.



Three months ended March 31,

 





2014

2013


Operating revenue




$6,328,959

$6,826,630









Administrative expenses




517,646

564,972


Marketing and distribution costs




4,081,137

4,390,781


Employee costs




1,090,307

951,941


Depreciation, amortization and impairments




142,406

134,012


Finance costs




20,065

25,907


Loss (gain) on exchange difference




12,208

7,547









Total operating expenses




5,863,769

6,075,160


Income before taxes




465,190

751,470


Income tax expense




123,426

204,842









Net income for the period




$341,764

$546,628


Basic and Diluted Earnings per share




$0.01

$0.02









EBITDA




$627,661

$911,389









For details please refer to the MD&A and the Complete Financial Statements filed with Sedar.

We are a Canadian media company with all of our operations in Canada. ATN serves Canada's diverse cultural communities with 51 premium specialty television channels. ATN offers its flagship general interest service "ATN HD", several Bollywood movie channels with over 800 movies a month, and a variety of channels that include sports, news, music, lifestyle, spiritual and several regional language channels. ATN is Canada's pioneer of World Class Cricket. ATN operates a South Asian Radio Service on Satellite Radio across Canada and the United States. We are publicly traded on the Toronto Stock Exchange Venture (TSXV-SAT). For more information please visit www.asiantelevision.com

Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements.

The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KXVO. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.