ATN Reports a Net Income of $202,081 on Revenues of $5,205,846 for the 3 Months Ended June 30, 2017 and a Net Loss of $29,260 on Revenues of $10,395,299 for the 6 Months Ended June 30, 2017
TORONTO, Aug. 29, 2017 /CNW/ - Asian Television Network International Limited (ATN) (TSX-V-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its second quarter 2017 consolidated financial and operating results for the three and six months ended June 30, 2017, in accordance with International Financial Reporting Standards ("IFRS").
Summarized Consolidated Financial Results
Three and six months ended June 30, 2017 and June 30, 2016
| Three months ended June 30, |
Six months ended June 30, |
|||||
| 2017 |
2016 |
2017 |
2016 |
|||
| Operating revenue |
$5,205,846 |
$6,250,709 |
$10,395,299 |
$12,342,581 |
||
| Total operating expenses |
4,909,208 |
5,957,261 |
10,408,886 |
11,755,521 |
||
| Income before taxes |
296,638 |
293,448 |
(13,587) |
587,060 |
||
| Income tax expense |
94,557 |
93,084 |
15,673 |
186,043 |
||
| Net income for the period |
$202,081 |
$200,364 |
$(29,260) |
$401,017 |
||
| Basic and Diluted Earnings per share |
$0.01 |
$0.01 |
$(0.00) |
$0.02 |
||
| EBITDA |
$653,090 |
$514,061 |
$642,512 |
$1,022,044 |
||
For details please refer to the MD&A and the Complete Financial Statements filed with Sedar.
We are a Canadian media company. ATN serves Canada's diverse cultural communities with 55 premium specialty television channels. 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.
SOURCE Asian Television Network International Limited
K. Classen CFO, Asian Television Network International Limited, Markham, Ontario L3R 8E4, 905-948-8199
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