ATN Reports a Net Income of $105,543 on Revenues of $5,857,505 for the 3 Months Ended September 30, 2016 and a Net Income of $506,558 on Revenues of $18,200,087 for the 9 Months Ended September 30, 2016

TORONTO, Nov. 28, 2016 /CNW/ - Asian Television Network International Limited (ATN) (TSX-V-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its third quarter 2016 consolidated financial and operating results for the three and nine months ended September 30, 2016, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results

Three and nine months ended September 30, 2016 and September 30, 2015

 

 


Three months ended September 30,

 

Nine months ended September 30,

 


2016

2015


2016

2015


Operating revenue

$5,857,505

$6,597,606


$18,200,087

$19,265,606


Total operating expenses

5,685,612

5,915,985


17,441,136

17,442,070


Income before taxes

171,893

681,621


758,951

1,823,536


Income tax expense

66,350

189,926


252,393

499,112


Net income for the period

$105,543

$491,695


$506,558

$1,324,424


Basic and Diluted Earnings per share

$0.004

$0.020


$0.021

$0.054
















EBITDA

$375,671

$882,736


$1,397,714

$2,404,231


 

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 55 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

For further information: K. Classen CFO, Asian Television Network International Limited, Markham, Ontario L3R 8E4, 905-948-8199

RELATED LINKS
http://www.asiantelevision.com

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