[August 15, 2011] ATN reports a six months net profit of 2.9 millon Tweet TORONTO, Aug. 15, 2011, 2011 (Canada NewsWire via COMTEX) -- Asian Television Network International Limited (ATN) (TSX: SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its unaudited interim consolidated financial and operating results for the three months and six months ended June 30, 2011, in accordance with International Financial Reporting Standards ("IFRS"). Financial highlights are as follows: Three 2011 2010 % months Change ended June 30, (Unaudited) Operating revenue Operating expenses Income before taxes $6,951,762 $5,203,625 +34% Net income 4,703,324 4,123,755 +14% for period 2,252,811 1,032,067 +118% EBITDA 1,560,048 698,094 +123% 2,288,496 1,135,950 +101% EBITDA earnings .09 .05 +101% per share .06 .03 +123% Net 10,763,563 6,797,950 +58% Earnings $1,704,713 $ 681,041 +150% per share Total assets Cash flows from operations Six months 2011 2010 % ended June Change 30, (Unaudited) Operating revenue Operating expenses Income before taxes $14,373,202 $9,941,416 +45% Net income 10,186,629 8,296,630 +23% for period 4,187,710 1,551,272 +171% EBITDA 2,902,029 1,051,113 +176% 4,267,664 1,762,114 +142% EBITDA earnings .17 .07 +142% per share .12 .04 +176% Net 10,763,563 6,797,950 +58% Earnings $3,501,270 $1,026,939 +241% per share Total assets Cash flows from operations "We are very pleased with these results of the Company" says Kyrill Classen Chief Financial Officer. "We are encouraged by the growth of our business and the trend this sets for the future" says Dr. Shan Chandrasekar President & CEO. ATN operates 33 specialty television channels as well as the ATN Asian Radio on XM 159, the only Satellite Radio channel serving North America's South Asian Diaspora. ATN video content is also available on any Bell mobile phone that supports video. ATN has programming alliances with leading international broadcasters. 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. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/15/c3834.html SOURCE: Asian Television Network International Limited K. Classen CFO Asian Television Network International Limited Newmarket, Ontario L3Y 7B6 905-836-6460 [ Back To TMCnet.com's Homepage ]