ATN Reports its Third Quarter for the Three and Nine Months Ended September 30, 2020

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ATN Reports its Third Quarter for the Three and Nine Months Ended September 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; } .prngen3{ BORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em } .prngen9{ 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 } .prngen8{ 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 } .prngen6{ 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 } .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 } .prngen7{ 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 } .prngen5{ 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 } .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, Nov. 25, 2020 TORONTO , Nov. 25, 2020 /CNW/ - Asian Television Network International Limited (ATN) Toronto Stock Exchange Venture (TSXV: SAT) Canada's Pioneer South Asian Broadcaster announce its third quarter 2020 consolidated financial and operating results for the three and nine months ended September 30, 2020 , in accordance with International Financial Reporting Standards ("IFRS"). Summarized Consolidated Financial Results Three and nine months ended September 30, 2020 and September 30, 2019 . Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 Operating revenue $ 2,766,649 $ 2,994,964 $ 7,435,767 $ 9,094,326 Total operating expenses 2,469,573 3,628,991 8,123,043 11,421,659 Income (Loss) before tax 297,076 (634,027) (687,276) (2,327,333) Income tax recovery - - - (328,234) Net income (loss) for the year 297,076 (634,027) (687,276) (1,999,099) Basic and Diluted Loss per share $ 0.01 $ (0.03) $ (0.03) $ (0.08) EBITDA $ 604,663 $ (275,971) $ 656,168 $ (895,791) Consolidated operating revenue decreased 8% of which subscription revenues increased 7% and advertising revenue decreased by 41% this quarter over same the three months ended September 30, 2019 having a positive impact on our consolidated income for the quarter. The decline of advertising revenues compared to same three month period in 2019 continues due to businesses impacted by COVID-19 restrictions although it has increased from previous quarter ending on June 30, 2020 . For the nine month period ending September 30, 2020 , the decline in subscription revenue continues 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 to download multimedia: http://www.newswire.ca/en/releases/archive/November2020/25/c9274.html

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