BFS Entertainment & Multimedia Limited Announces Results For Fiscal 2013
30 Julio 2013 - 5:14PM
Marketwired Canada
BFS Entertainment & Multimedia Limited ("BFS") (TSX VENTURE:BFS) of Richmond
Hill, Ontario, announces its audited consolidated financial and operating
results for the fiscal year ended May 4, 2013.
Sales for the fiscal year were $9,910,037 compared to $9,518,360 last year. Net
income before income taxes for the fiscal year was $111,018 compared to a net
loss before incomes taxes of $769,186 for the same period last year. Net income
for the fiscal year was $67,052 ($0.01 per share) compared to a net loss of
$521,588 ($0.07 per share) for the same period last year.
Denis B.E. Donnelly, President and CEO stated, "We are pleased to have returned
the company to profitability and look forward to increasing profit in fiscal
2014."
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FINANCIAL HIGHLIGHTS Fiscal years ended
(Audited - in Canadian dollars) May 4, 2013 May 5, 2012
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Sales $ 9,910,037 $ 9,518,360
Cost of goods sold 3,683,873 3,582,057
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Gross profit 6,226,164 5,936,303
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Selling and administrative expenses 5,760,602 6,343,799
Amortization 329,342 352,584
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Income (loss) from operations 136,220 (760,080)
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Interest expense 43,269 43,303
Foreign exchange gain (18,067) (34,197)
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Net finance charges 25,202 9,106
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Income (loss) before income taxes 111,018 (769,186)
Income taxes expense (recovery) 43,966 (247,598)
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Net income (loss) and comprehensive income
(loss) $ 67,052 $ (521,588)
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Basic and diluted earnings (loss) per share $ 0.01 $ (0.07)
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BFS Entertainment & Multimedia Limited is a recognised independent North
American entertainment company focusing on the acquisition, distribution and
production of film and television media with head office in Toronto, Ontario.
Programming includes classic dramas, mystery, comedy, sports, documentaries and
health and wellness and is sold under the BFS, American Home Treasures and Bodhi
Lifestyle(TM) brands. North American retail distribution is through national
retailers, distributors, mail order companies, Collectables Direct (BFS' direct
to consumer division) and e-commerce websites.
BFS' strategy is to continue to acquire new programming and to expand its
proprietary programme development, international distribution and direct to
consumer delivery, including electronic delivery and streaming.
(SEC Rule 12g exemption #82-4245)
FOR FURTHER INFORMATION PLEASE CONTACT:
BFS Entertainment & Multimedia Limited
John Grzybowski, MBA, CPA, CA
Chief Financial Officer
(905) 884-2323
(905) 884-8292 (FAX)
ir@bfsent.com
www.bfsent.com
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