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ATN Reports a Net Income of $200,364 on Revenues of $6,250,709 for the 3 Months Ended June 30, 2016 and a Net Income of $401,017 on Revenues of $12,342,581 for the 6 Months Ended June 30, 2016
[August 26, 2016]

ATN Reports a Net Income of $200,364 on Revenues of $6,250,709 for the 3 Months Ended June 30, 2016 and a Net Income of $401,017 on Revenues of $12,342,581 for the 6 Months Ended June 30, 2016


TORONTO, Aug. 26, 2016 /CNW/ - Asian Television Network International Limited (ATN) (TSX-V-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its second quarter 2016 consolidated financial and operating results for the three and six months ended June 30, 2016, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results

Three and six months ended June 30, 2016 and June 30, 2015

Three months ended June 30,

 

Six months ended June 30,

 

2016

2015

2016

2015

Operating revenue

$6,250,709

$6,441,117

$12,342,581

$12,668,000




Total operating expenses

5,957,261

5,795,330

11,755,521

11,526,085

Income before taxes

293,448

645,787

587,060

1,141,915

Income tax expense

93,084

174,504

186,043

309,186




Net income for the period

$200,364

$471,283

$401,017

$832,729

Basic and Diluted Earnings per share

$0.01

$0.02

$0.02

$0.03










EBITDA

$514,061

$836,271

$1,022,044

$1,521,495


 

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 54 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


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