ATN reports a net income of $341,764 on revenues of $6,328,959 for the 3 months ended March 31, 2014

ATN reports a net income of $341,764 on revenues of $6,328,959 for the 3 months ended March 31, 2014

TORONTO, May 23, 2014 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its first quarter 2014 consolidated financial and operating results for the 3 months ended March 31, 2014, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results
Three months ended March 31, 2014 and March 31, 2013.

Throughout this MD&A, percentage changes are calculated using numbers rounded as they appear.


Three months ended
March 31,



2014 2013

Operating revenue $6,328,959 $6,826,630


Administrative expenses 517,646 564,972

Marketing and distribution costs 4,081,137 4,390,781

Employee costs 1,090,307 951,941

Depreciation, amortization and
impairments 142,406 134,012

Finance costs 20,065 25,907

Loss (gain) on exchange difference 12,208 7,547
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Total operating expenses 5,863,769 6,075,160
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Income before taxes 465,190 751,470

Income tax expense 123,426 204,842
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Net income for the period $341,764 $546,628
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Basic and Diluted Earnings per
share $0.01 $0.02


EBITDA $627,661 $911,389

For details please refer to the MD&A and the Complete Financial Statements filed with Sedar.

We are a Canadian media company with all of our operations in Canada. ATN serves Canada's diverse cultural communities with 51 premium specialty television channels. ATN offers its flagship general interest service "ATN HD", several Bollywood movie channels with over 800 movies a month, and a variety of channels that include sports, news, music, lifestyle, spiritual and several regional language channels. ATN is Canada's pioneer of World Class Cricket. ATN operates a South Asian Radio Service on Satellite Radio across Canada and the United States. We are publicly traded on the Toronto Stock Exchange Venture (TSXV-SAT). 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, Markham, Ontario L3R 8E4, 905-948-8199

Web Site: http://www.asiantelevision.com


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