NEWMARKET, ON, March 26 /CNW/ - Asian Television Network International Limited (ATN)(The Company)(TSX-SAT), today announced financial results for the year ended December 31, 2006. The Company had a record year Revenue of $11,054,639, a 52.1% increase over 2005. Net earnings before income tax in 2006 were also record breaking at $2,496,154 and exceeding 2005 by 70.8%. This was also our fourth consecutive year of positive net earnings. In addition, EBITDA for December 31 2006 was $3,361,276, (EPS 14.0 cents) as compared to December 31, 2005 of $2,019,912, (EPS 8.5 cents) a 66.4% outstanding increase.
FINANCIAL HIGHLIGHTS
For the year-end December 31
2006 2005
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Revenue $11,054,639 $7,269,400
EBITDA $3,361,276 $2,019,912
Earnings per share $0.14 $0.08
Net earnings before taxes $2,496,154 $1,460,995
ATN is Canada's largest South Asian broadcaster. The Company operates a total of fourteen licensed television channels, including the just launched English language sports channel. The majority of the channels are dedicated to multi-cultural television programming. These include two general interest entertainment channels, two movie channels, five regional language channels, an English language news channel, a sports channel and a music channel. Thus the company carries a variety of genres. The Company's operations reach beyond the niche market, as it is one of the largest distributors of world-class cricket on television in Canada, including the 2007 ICC Cricket World Cup.
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