ATN Reports a Net Income of $5.3 Million on Revenues of $28 Million for the 12 Months Ended December 31, 2011.

ATN Reports a Net Income of $5.3 Million on Revenues of $28 Million for the 12 Months Ended December 31, 2011.

TORONTO, April 2, 2012 /PRNewswire/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its
audited annual consolidated financial and operating results for the 12
months ended December 31, 2011, in accordance with International
Financial Reporting Standards ("IFRS").

Financial highlights are as follows:

Years ended December 31, 2011 2010 % Change

Operating revenue $27,964,020 $21,320,301 +31%

Administrative expenses 1,908,182 1,611,741 +18%

Marketing and distribution costs 15,622,207 14,165,419 +10%

Employee costs 2,880,746 2,406,103 +20%

Depreciation, amortization and 174,126 174,387 +0%
impairments

Finance costs 9,186 15,425 -40%

(Gain) loss on exchange difference (10,746) 8,727 -223%

Income from operation 7,380,319 2,938,499 +151%

Income tax expense 2,082,859 932,249 +123%

Net income for the year 5,297,460 2,006,250 +164%

Earnings per share .22 .08 +164%

Cash flows from operations $5,771,752 $1,660,961 +247%

Operating profit (EBITDA) $7,552,885 $3,137,038 +141%

Earnings per share (EBITDA) .31 .13 +141%

"We are very encouraged by the growth of our business and the trend this
sets is a significant and positive sign for the future" says Dr. Shan
Chandrasekar President & CEO.

"ATN delivered an impressive top and bottom-line growth in 2011" says
Kyrill Classen Chief Financial Officer.

ATN serves Canada's diverse cultural communities with 34 premium
specialty television channels. ATN offers its flagship general interest
service, Several Bollywood movie channels , and a variety of channels
that include 3 sports Channels, 3 news Channels , 3 music Channels , 2
lifestyle Channels, 3 Chinese Channels and several General interest and
regional language channels. ATN is one of Canada's largest distributors
of World Class Cricket. ATN operates the only South Asian Radio Service
24 hours a day on XM across The United States and Canada. ATN video
content is also available on any Bell mobile phone that supports video.
ATN has programming alliances with leading international broadcasters.
For more information please visit www.asiantelevision.com

Neither the Toronto Venture Exchange, nor its regulation services
provider (as that term is defined in the policies of the exchange),
accepts responsibility for the adequacy or accuracy of this release

Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are
subject to significant risks and uncertainties that are difficult to
predict. Actual results might differ materially from results suggested
in any forward-looking statements.

The Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ
from those reflected in the forward-looking statements unless and until
required by securities laws applicable to the Company. Additional
information identifying risks and uncertainties is contained in filings
by the Company with the Canadian securities regulators, which filings
are available at www.sedar.com.

 

 

SOURCE Asian Television Network International Limited

Asian Television Network International Limited

CONTACT: K. Classen CFO
Asian Television Network International Limited
Newmarket, Ontario L3Y 7B6
905-836-6460

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