ATN reports a net income of $523,645 on revenues of $6,898,085 for the 3 months ended September 30, 2013 and a net income of $1,752,836 on revenues of $20,575,218 for the 9 months ended September 30, 2013

TORONTO, Nov. 11, 2013 /CNW/ - Asian Television Network International Limited (ATN) (TSX: SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its third quarter 2013 consolidated financial and operating results for the 3 months and nine months ended September 30, 2013, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results
Three months and nine months ended September 30, 2013 and September 30, 2012.

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013	2012
Operating revenue	$6,898,085		$6,290,447		$20,575,218	$18,984,116
Administrative expenses	592,460		725,628		1,710,383	1,725,416
Marketing and distribution costs	4,393,505		3,836,234		12,869,573	11,624,033
Employee costs	1,082,333		890,424		3,121,953	2,374,342
Depreciation, amortization and impairments	132,607		149,259		401,870	233,542
Finance costs	23,350		1,178		74,006	5,201
Loss (gain) on exchange difference	5,463		7,069		16,533	11,335
Total operating expenses	6,229,718		5,609,792		18,194,318	15,973,869
Income before taxes	668,367		680,655		2,380,900	3,010,247
Income tax expense	144,722		205,690		628,064	811,616
Net income for the period	$523,645		$474,965		$1,752,836	$2,198,631
Basic and Diluted Earnings per share	$0.02		$0.02		$0.07	$0.09

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 46 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 (TSX-V: 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