ATN reports a net income of $546,842 on revenues of $6,826,630 for the 3 months ended March 31, 2013.

TORONTO, May 28, 2013 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its first quarter 2013 consolidated financial and operating results for the 3 months ended March 31, 2013, in accordance with International Financial Reporting Standards ("IFRS").

Financial highlights are as follows:

Three months ended March 31,	2013
Operating revenue	$6,826,630
Administrative expenses	564,972
Marketing and distribution costs	4,390,781
Employee costs	951,941
Depreciation, amortization and impairments	134,012
Finance costs	25,907
Loss (gain) on exchange difference	7,547
Total operating expenses	6,075,160
Income before taxes	751,470
Income tax expense	204,842
Net income for the period	546,842
Earnings per share	.02
Cash flows from operations	$721,904

 

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 40 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