ATN Reports Its Second Quarter for the Three And Six Months Ended June 30, 2020

About this update from Asian Television Network International Limited

ATN Reports Its Second Quarter for the Three And Six Months Ended June 30, 2020 /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prngen9{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prngen7{ BORDER-TOP:black 1pt solid; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.67em } .prngen10{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.67em } .prngen8{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prngen3{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prngen2{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.67em } .prngen6{ BORDER-TOP:black 1pt solid; BORDER-RIGHT:1pt; VERTICAL-ALIGN: MIDDLE; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.67em } .prngen11{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prngen12{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: MIDDLE; BORDER-BOTTOM:1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prngen4{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prntblns{ BORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt } .prnsbr1{ BORDER-RIGHT:1pt } .prnvab{ VERTICAL-ALIGN: BOTTOM } .prnpr6{ PADDING-RIGHT:0.50em } .prnpl6{ PADDING-LEFT:0.50em } .prnsbts{ BORDER-TOP:black 1pt solid } .prnsbbs{ BORDER-BOTTOM:black 1pt solid } .prnsbl1{ BORDER-LEFT:1pt } Canada NewsWire TORONTO, Aug. 25, 2020 TORONTO , Aug. 25, 2020 /CNW/ -  Asian Television Network International Limited (ATN) Toronto Stock Exchange Venture (TSXV: SAT)   Canada's Pioneer South Asian Broadcaster announce its second quarter 2020 consolidated financial and operating results for the three and six months ended June 30, 2020 , in accordance with International Financial Reporting Standards ("IFRS"). Summarized Consolidated Financial Results Three and six months ended June 30, 2020 and June 30, 2019 . Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Operating revenue $2,223,981 $2,884,419 $4,669,119 $6,099,362 Total operating expenses $2,530,787 $3,988,184 $5,653,470 $7,792,668 Loss before tax ($306,806) ($1,103,765) ($984,351) ($1,693,306) Income tax recovery $0 ($161,804) $0 ($328,234) Net loss for the year ($306,806) ($941,961) ($984,351) ($1,365,072) Basic and Diluted Loss per share ($0.01) ($0.04) ($0.04) ($0.06) The Company posted a positive EBITDA of $161,704 for the three months ended June 30, 2020 as compared to negative EBITDA of - $567,696 for the same period of three months ending June 30, 2019 . Consolidated operating revenue decreased 23% of which subscription revenues declined 12% and advertising revenue decreased by 54% this quarter over same the three months ended June 30, 2020 having a negative impact on our consolidated income. The decline of advertising revenues further accelerated primarily due to several temporary closures for businesses impacted by COVID-19 although a steady decline is noticeable from before as well due to declining number of subscribers who continue to migrate to illegal IPTV set-top boxes. For details please refer to the MD&A and the Complete Financial Statements filed with SEDAR. We are a Canadian media company. ATN serves Canada's diverse cultural communities with more than 50 premium specialty television channels. We are publicly traded on the Toronto Stock Exchange Venture (TSXV-SAT). For more information please visit www.asiantelevision.com We seek safe harbor. SOURCE Asian Television Network International Limited View original content: http://www.newswire.ca/en/releases/archive/August2020/25/c1974.html A Bhandari, CPA, CA, CFO, Asian Television Network International Limited, Markham, Ontario, L3R 8E4, 905-948-8199Copyright CNW Group 2020

View stock analysis, news, and events for Asian Television Network International Limited