ATN reports a net income of $341,764 on revenues of $6,328,959 for the 3 months ended March 31, 2014

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[{"type":"text","content":"\n\nTORONTO, May 23, 2014 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its first quarter 2014 consolidated financial and operating results for the 3 months ended March 31, 2014, in accordance with International Financial Reporting Standards (\"IFRS\").\n\nSummarized Consolidated Financial ResultsThree months ended March 31, 2014 and March 31, 2013.\n\nThroughout this MD&A, percentage changes are calculated using numbers rounded as they appear.\n\n\n\n\n\n\nThree months ended March 31,\n\n \n\n\n\n\n\n\n\n2014\n\n\n2013\n\n\n\n\nOperating revenue\n\n\n\n\n\n$6,328,959\n\n\n$6,826,630\n\n\n\n\n\n\n\n\n\n\n\n\nAdministrative expenses\n\n\n\n\n\n517,646\n\n\n564,972\n\n\n\n\nMarketing and distribution costs\n\n\n\n\n\n4,081,137\n\n\n4,390,781\n\n\n\n\nEmployee costs\n\n\n\n\n\n1,090,307\n\n\n951,941\n\n\n\n\nDepreciation, amortization and impairments\n\n\n\n\n\n142,406\n\n\n134,012\n\n\n\n\nFinance costs\n\n\n\n\n\n20,065\n\n\n25,907\n\n\n\n\nLoss (gain) on exchange difference\n\n\n\n\n\n12,208\n\n\n7,547\n\n\n\n\n\n\n\n\n\n\n\n\nTotal operating expenses\n\n\n\n\n\n5,863,769\n\n\n6,075,160\n\n\n\n\nIncome before taxes\n\n\n\n\n\n465,190\n\n\n751,470\n\n\n\n\nIncome tax expense\n\n\n\n\n\n123,426\n\n\n204,842\n\n\n\n\n\n\n\n\n\n\n\n\nNet income for the period\n\n\n\n\n\n$341,764\n\n\n$546,628\n\n\n\n\nBasic and Diluted Earnings per share\n\n\n\n\n\n$0.01\n\n\n$0.02\n\n\n\n\n\n\n\n\n\n\n\n\nEBITDA\n\n\n\n\n\n$627,661\n\n\n$911,389\n\n\n\n\n\n\n\n\n\n\nFor details please refer to the MD&A and the Complete Financial Statements filed with Sedar. \n\nWe are a Canadian media company with all of our operations in Canada. ATN serves Canada's diverse cultural communities with 51 premium specialty television channels. ATN offers its flagship general interest service \"ATN HD\", several Bollywood movie channels with over 800 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\n\nNeither th...

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