ATN reports a net profit of $1,721,540 on revenues of $12,693,670 for the 6 months ended June 30, 2012

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Aug. 13, 2012 /CNW/ - Asian Television Network International Limited (ATN) (TSX: SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its\n second quarter 2012 consolidated financial and operating results for\n the 3 and 6 months ended June 30, 2012, in accordance with\n International Financial Reporting Standards (\"IFRS\").\n\n\nFinancial highlights are as follows:\n\n\n \n\n\nThree months ended June 30,\n\n\nSix months ended June 30,\n\n \n \n \n \n \n \n \n\n \n\n\n2012\n\n\n2011\n\n\n% Chg\n\n\n2012\n\n\n2011\n\n\n% Chg\n\n\nOperating revenue\n\n\n$6,362,975\n\n\n$6,953,691\n\n\n-8%\n\n\n$12,683,670\n\n\n$14,377,791\n\n\n-12%\n\n\nAdministrative expenses\n\n\n453,888\n\n\n463,173\n\n\n-2%\n\n\n1,000,222\n\n\n898,603\n\n\n+11%\n\n\nMarketing and distribution costs\n\n\n3,895,845\n\n\n3,485,243\n\n\n+12%\n\n\n7,787,366\n\n\n7,829,505\n\n\n-1%\n\n\nEmployee costs\n\n\n720,570\n\n\n714,850\n\n\n+1%\n\n\n1,483,917\n\n\n1,377,430\n\n\n+8%\n\n\nDepreciation, amortization and impairments\n\n\n43,165\n\n\n37,892\n\n\n+14%\n\n\n86,409\n\n\n75,062\n\n\n+15%\n\n\nFinance costs\n\n\n1,571\n\n\n2,166\n\n\n-27%\n\n\n4,023\n\n\n3,029\n\n\n+33%\n\n\n(Gain) loss on exchange difference\n\n\n5,614\n\n\n(2,444)\n\n\n-330%\n\n\n4,267\n\n\n(3,548)\n\n\n-220%\n\n\nIncome from operation\n\n\n1,242,322\n\n\n2,252,811\n\n\n-45%\n\n\n2,327,466\n\n\n4,197,710\n\n\n-45%\n\n\nIncome tax expense\n\n\n298,251\n\n\n692,763\n\n\n-57%\n\n\n605,926\n\n\n1,295,681\n\n\n-53%\n\n\nNet income for the period\n\n\n944,071\n\n\n1,560,048\n\n\n-39%\n\n\n1,721,540\n\n\n2,902,029\n\n\n-41%\n\n\nEarnings per share\n\n\n.04\n\n\n.06\n\n\n-39%\n\n\n.07\n\n\n.12\n\n\n-41%\n\n\nCash flows from operations\n\n\n$2,123,045\n\n\n$1,704,713\n\n\n+25%\n\n\n$2,332,353\n\n\n$3,501,270\n\n\n-33%\n\n \n \n \n \n \n \n \n\nATN serves Canada's diverse cultural communities with 34 premium\n specialty television channels. ATN offers its flagship general interest\n service, Several Bollywood movie channels , and a variety of channels\n that include 3 sports Channels, 3 news Channels , 3 music Channels , 2\n lifestyle Channels, 3 Chinese Channels and several General interest and\n regional language channels. ATN is one of Canada's largest distributors\n of World Class Cricket...

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