2014

ATN reports a net income of $682,562 on revenues of $6,850,502 for the 3 months ended June 30, 2013 and a net income of $1,229,190 on revenues of $13,677,133 for the 6 months ended June 30, 2013

TORONTO, Aug. 19, 2013 /CNW/ - Asian Television Network International Limited (ATN) (TSX-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its second quarter 2013 consolidated financial and operating results for the 3 months and six months ended June 30, 2013, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results
Three months and six months ended June 30, 2013 and June 30, 2012 and % Change

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

  Three months ended June 30, Six months ended June 30,
  2013 2012 %Change 2013 2012 %Change
Operating revenue $6,850,502 $6,362,976 8% $13,677,133 $12,715,544 8%
             
Administrative expenses 552,951 453,454 22% 1,117,923 1,021,664 9%
Marketing and distribution costs 4,085,287 3,896,278 5% 8,476,068 7,787,798 9%
Employee costs 1,087,679 720,570 51% 2,039,620 1,483,917 37
Depreciation, amortization and impairments 135,251 43,167 213% 269,264 86,406 212%
Finance costs 24,749 1,571 1475% 50,656 4,023 1159%
Loss (gain) on exchange difference 3,523 5,614 -37% 11,070 4,266 159%
             
Total operating expenses 5,889,440 5,120,654 15% 11,964,601 10,388,074 15%
Income before taxes 961,062 1,242,322 -23% 1,712,532 2,327,470 -26%
Income tax expense 278,500 298,251 -7% 483,342 605,926 -20%
             
Net income for the period $682,562 $944,071 -28% $1,229,190 $1,721,544 -29%
Basic and Diluted Earnings per share $0.03 $0.04 -28% $0.05 $0.07 -29%
             

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 44 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 (TSX-V: 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



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