Asian Television Network International Limited is pleased to announce its second quarter 2024 consolidated financial and operating results for the 3 months and six months ended June 30, 2024, in accordance with International Financial Reporting Standards.
Summarized Consolidated Financial Results
Three and six months ended June 30, 2024 and June 30, 2024 and % Change
Percentage changes are calculated using numbers rounded as they appear.
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Three months ended June 30,
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Six months ended June 30,
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2014
|
2013
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%Change
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2014
|
2013
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%Change
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Operating revenue
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$6,287,955
|
6,850,502
|
-8%
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$12,616,914
|
$13,677,133
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-8%
|
| |
|
|
|
|
|
|
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Administrative expenses
|
497,556
|
552,951
|
-10%
|
1,015,202
|
1,117,923
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-9%
|
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Marketing and distribution costs
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3,409,121
|
4,085,287
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-17%
|
7,490,258
|
8,476,068
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-12%
|
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Employee costs
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1,150,474
|
1,087,679
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6%
|
2,240,781
|
2,039,620
|
10%
|
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Depreciation, amortization and impairments
|
140,759
|
135,251
|
4%
|
283,165
|
269,264
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5%
|
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Finance costs
|
19,068
|
24,749
|
-23%
|
39,131
|
50,656
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-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
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$770,194
|
$682,562
|
13%
|
$1,111,958
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$1,229,190
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-10%
|
|
Basic and Diluted Earnings per share
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$0.03
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$0.03
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13%
|
$0.05
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$0.05
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-10%
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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