ATN reports a net income of $2,104,998 on revenues of $26,425,616 for the 12 months ended December 31, 2014.

TORONTO, April 28, 2015 /CNW/ - Asian Television Network International Limited (ATN) Toronto Stock Exchange Venture (TSXV-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, 2014, in accordance with International Financial Reporting Standards ("IFRS").





2014


2013


Operating revenue




$26,425,616


$27,374,134










Administrative expenses




2,175,399


2,291,892


Marketing and distribution costs




16,184,376


17,182,149


Employee costs




4,514,289


4,244,084


Depreciation, amortization and impairments




563,608


539,042


Finance costs




73,749


95,691


Gain on disposal of asset




-


(372,669)


Loss on foreign exchange difference




30,358


21,630


Total operating expenses




23,541,779


24,001,819


Income before tax




2,883,837


3,372,315


Income tax expense




778,839


883,835


Net income for the period




$2,104,998


$2,488,480


Basic and Diluted Earnings per share




$0.09


$0.10










EBITDA




$3,521,194


$4,007,048


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 54 premium specialty television channels. ATN offers its flagship general interest service "ATN HD", several Bollywood movie channels with hundreds of 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 (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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