Asian Television Network International Limited Consolidated Financial Statements - Six Months Ending June 30, 2006

About this update from Asian Television Network International Limited

[{"type":"text","content":"\n\n\n\n\nTO OUR SHAREHOLDERS\n\nTORONTO, Aug. 8 /CNW/ - The purpose of the Management's Discussion and\nAnalysis (\"MD&A\") is to provide readers with additional and complementary\ninformation regarding Asian Television Network International Limited (ATN)\n(the Company) (TSX-SAT) and results of operations as at June 30, 2006. These\ncomments should be read in conjunction with the audited consolidated financial\nstatements and related notes for the year ended December 31, 2005.\n\nPROFILE\nATN is Canada's largest South Asian Broadcaster and also Canada's largest\nDistributor of World Class Cricket programming. ATN operates thirteen channels\ncomprised of general interest, movies, news, music, regional languages and a\nCommonwealth channel with live cricket from around the world.\n\nNET EARNINGS BEFORE INCOME TAXES\nThe Company's strong fiscal performance continues through the six months\nending June 30th 2006. Our net earnings at June 30, 2006 are $1,158,517\ncompared to June 30, 2005 of $540,571, a 214.3% or $617,946 year over year\nincrease. This is the fourteenth consecutive quarter of the consistent trend\nof positive net earnings before taxes, for the Company. Management has set\ngoals for and hopes that this trend shall continue. We have persevered and\nshall continue to persevere to strive at achieving these goals through\nsteadfastly enriching our programming with creativity, diversification and\nvariety and progressive increase in our subscriber base.\n\nREVENUES\nOur revenues for the first half of 2006 were again at an all time high at\n$4,817,155 as against $2,900,074 for 2005 a year over year substantial\nimprovement of 166.1% OR $1,917,181. Our focus continues to be to maximize our\nprincipal sources of revenue by: 1) increasing the number and variety of our\nchannels, 2) increasing the number of subscribers for all our channels, and\n3) increasing advertising revenue. We are very optimistic about the continued\nprogress on all these fronts. We now have 8 of our 13 channels available\nnationwide and all 13 channels available in southern Ontario, and we continue\nto keep increasing distribution and wider distribution and availability of our\nchannels on a nationwide basis.\n\nOPERATING EXPENSES\nThe operating expenses for the six months ending June 30, 2006 were\n$3,258,252 and for 2005 were $2,088,872. The year ...

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