TORONTO, April 2, 2012 /PRNewswire/ - Asian Television
Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is
pleased to announce its audited annual consolidated financial and
operating results for the 12 months ended December 31, 2011, in accordance with
International Financial Reporting Standards ("IFRS").
Financial highlights are as follows:
| |
|
|
|
| Years ended December 31, |
2011 |
2010 |
% Change |
| |
|
|
|
| Operating revenue |
$27,964,020 |
$21,320,301 |
+31% |
| Administrative expenses |
1,908,182 |
1,611,741 |
+18% |
| Marketing and distribution costs |
15,622,207 |
14,165,419 |
+10% |
| Employee costs |
2,880,746 |
2,406,103 |
+20% |
| Depreciation, amortization and impairments |
174,126 |
174,387 |
+0% |
| Finance costs |
9,186 |
15,425 |
-40% |
| (Gain) loss on exchange difference |
(10,746) |
8,727 |
-223% |
| Income from operation |
7,380,319 |
2,938,499 |
+151% |
| Income tax expense |
2,082,859 |
932,249 |
+123% |
| |
|
|
|
| Net income for the year |
5,297,460 |
2,006,250 |
+164% |
| |
|
|
|
| Earnings per share |
.22 |
.08 |
+164% |
| |
|
|
|
| Cash flows from operations |
$5,771,752 |
$1,660,961 |
+247% |
| |
|
|
|
| Operating profit (EBITDA) |
$7,552,885 |
$3,137,038 |
+141% |
| |
|
|
|
| Earnings per share (EBITDA) |
.31 |
.13 |
+141% |
"We are very encouraged by the growth of our business and the
trend this sets is a significant and positive sign for the future"
says Dr. Shan Chandrasekar President
& CEO.
"ATN delivered an impressive top and bottom-line growth in 2011"
says Kyrill Classen Chief Financial
Officer.
ATN serves Canada's diverse
cultural communities with 34 premium specialty television channels.
ATN offers its flagship general interest service, Several Bollywood
movie channels , and a variety of channels that include 3 sports
Channels, 3 news Channels , 3 music Channels , 2 lifestyle
Channels, 3 Chinese Channels and several General interest and
regional language channels. ATN is one of Canada's largest distributors of World Class
Cricket. ATN operates the only South Asian Radio Service 24 hours a
day on XM across The United States
and Canada. 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.
SOURCE Asian Television Network International Limited