ATN reports a net income of $2,488,480 on revenues of $27,374,134 for the 12 months ended December 31, 2013. - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

ATN reports a net income of $2,488,480 on revenues of $27,374,134 for the 12 months ended December 31, 2013.

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SOURCE Asian Television Network International Limited

TORONTO, April 23, 2014 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its audited consolidated financial and operating results for the 12 months ended December 31, 2013, in accordance with International Financial Reporting Standards ("IFRS").





2013

2012


Operating revenue




$27,374,134

$27,762,965









Administrative expenses




2,291,892

2,339,279


Marketing and distribution costs




17,182,149

17,691,642


Employee costs




4,244,084

3,392,101


Depreciation, amortization and impairments




539,042

360,836


Finance costs




95,691

6,254


Gain on disposal of asset




(372,669)

-


Loss (gain) on exchange difference




21,630

5,458


Total operating expenses




24,001,819

23,795,570


Income before taxes




3,372,315

3,967,395


Income tax expense




883,835

1,051,537


Net income for the period




$2,488,480

$2,915,858


Basic and Diluted Earnings per share




$0.10

$0.12









EBITDA




$4,007,049

$4,334,485









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 (TSX-V: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.

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