ATN reports a net income of $670,194 on revenues of $6,287,955 for the 3 months ended June 30, 2014 and a net income of $1,111,958 on revenues of $12,616,914 for the 6 months ended June 30, 2014. - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

ATN reports a net income of $670,194 on revenues of $6,287,955 for the 3 months ended June 30, 2014 and a net income of $1,111,958 on revenues of $12,616,914 for the 6 months ended June 30, 2014.

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SOURCE Asian Television Network International Limited

TORONTO, Aug. 28, 2014 /CNW/ -Asian Television Network International Limited (ATN) (TSX-V-SAT) Canada's Pioneer South Asian Broadcaster is pleased to announce its second quarter 2014 consolidated financial and operating results for the 3 months and six months ended June 30, 2014, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results

Three and six months ended June 30, 2014 and June 30, 2013 and % Change

Percentage changes are calculated using numbers rounded as they appear.


Three months ended June 30,

Six months ended June 30,


2014

2013

%Change

2014

2013

%Change

Operating revenue

$6,287,955

6,850,502

-8%

$12,616,914

$13,677,133

-8%








Administrative expenses

497,556

552,951

-10%

1,015,202

1,117,923

-9%

Marketing and distribution costs

3,409,121

4,085,287

-17%

7,490,258

8,476,068

-12%

Employee costs

1,150,474

1,087,679

6%

2,240,781

2,039,620

10%

Depreciation, amortization and impairments

140,759

135,251

4%

283,165

269,264

5%

Finance costs

19,068

24,749

-23%

39,131

50,656

-23%

Loss (gain) on exchange difference

1,126

3,523

-68%

13,336

11,070

20%

Total operating expenses

5,218,104

5,889,440

-11%

11,081,873

11,964,601

-7%

Income before taxes

1,069,851

961,062

11%

1,535,041

1,712,532

-10%

Income tax expense

299,657

278,500

8%

423,083

483,342

-12%

Net income for the period

$770,194

$682,562

13%

$1,111,958

$1,229,190

-10%

Basic and Diluted Earnings per share

$0.03

$0.03

13%

$0.05

$0.05

-10%






















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.

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