Mar. 22, 2011 (Canada NewsWire Group) --
TORONTO, March 22 /CNW/ - Asian Television Network International Limited (ATN) (TSX: SAT), ATN is pleased to announce that the Company's Net Earnings as at December 31 2010 were $1,917,186.
The following is a summary schedule of revenue and expenses and more details are available from our year end Financial Statements and Management Discussion and Analysis:
| Total Revenue | $21,320,301 |
| Total Expenses | $18,506,368 |
| EBITDA | $4,665,013 |
| Earnings per share on EBITDA | 19 cents per share |
| Pre Tax earnings | $2,813,933 |
| Pre Tax earnings per share | 11.5 cents per share |
| Net Earnings | $1,917,186 |
| Net earnings per share | 8 cents per share |
In accordance with its dividend policy for 2011, the board of directors declared a dividend of $0.02 on each common share outstanding, payable, on May 4th2011, to shareholders of record at the close of business of April 15th 2011. The board of directors adopted a dividend policy for 2011 which contemplates the payment of semi-annual dividends in May and November of 2011.
The dividend policy will be reviewed periodically by the board of directors. The board of directors has the sole discretion to declare and to adjust or eliminate dividends based on relevant considerations, including the Company's need to retain capital to support its stability and growth, and compliance with applicable laws.
ATN serves Canada's diverse cultural communities with 33 premium specialty television channels. ATN offers its flagship general interest service, several Bollywood movie channels, and a variety of channels that includes sports, news, music, lifestyle, spiritual and several regional languages. ATN operates the only South Asian Radio Service 24 hours a day on XM across the United States and Canada.
A Canadian owned public company, ATN was recently selected as a TSX Venture 50 company and is Business Excellence Award winner from the Newmarket Chamber of Commerce. The founder of ATN was 2010 Ernst and Young Entrepreneur of the year finalist, and has been inducted to the Canadian Broadcast Hall of Fame. ATN created history by delivering more than 100 hours of live coverage in six languages on seven channels across Canada for the 2011 Winter Olympics
For more Information about ATN please visit our website www.asiantelevision.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. We rely on safe harbour provision.
B. Fulton CA CFO
Asian Television Network International Limited
Newmarket, Ontario L3Y 7B6
905-836-6460