ATN Reports a Net Income of $202,081 on Revenues of $5,205,846 for the 3 Months Ended June 30, 2017 and a Net Loss of $29,260 on Revenues of $10,395,299 for the 6 Months Ended June 30, 2017

TORONTO, Aug. 29, 2017 /CNW/ - Asian Television Network International Limited (ATN) (TSX-V-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its second quarter 2017 consolidated financial and operating results for the three and six months ended June 30, 2017, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results

Three and six months ended June 30, 2017 and June 30, 2016


Three months ended June 30,

Six months ended June 30,





2017

2016


2017

2016


Operating revenue

$5,205,846

$6,250,709


$10,395,299

$12,342,581


Total operating expenses

4,909,208

5,957,261


10,408,886

11,755,521


Income before taxes

296,638

293,448


(13,587)

587,060


Income tax expense

94,557

93,084


15,673

186,043


Net income for the period

$202,081

$200,364


$(29,260)

$401,017


Basic and Diluted Earnings per share

$0.01

$0.01


$(0.00)

$0.02
















EBITDA

$653,090

$514,061


$642,512

$1,022,044


 

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

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890