Le Lézard
Classified in: Business
Subjects: ERN, ASI

ATN Reports its Second Quarter for the Three and Six Months Ended June 30, 2019


TORONTO, Aug. 29, 2019 /CNW/ - Asian Television Network International Limited (ATN) Toronto Stock Exchange Venture (TSXV-SAT) Canada's Pioneer South Asian Broadcaster announce its second quarter 2019 consolidated financial and operating results for the three and six months ended June 30, 2019, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results

Three and six months ended June 30, 2019 and June 30, 2018



Three months ended June 30,


Six months ended June 30,



2019


2018


2019


2018

Operating revenue

$

2,884,419

$

3,959,427

$

6,099,362

$

8,168,493

Total operating expenses


3,988,184


4,515,183


7,792,668


9,068,802

Loss before taxes


(1,103,765)


(555,756)


(1,693,306)


(900,309)

Income tax recovery


(161,804)


(129,486)


(328,234)


(218,016)

Net (loss) income for the period

$

(941,961)

$

(426,270)

$

(1,365,072)

$

(682,293)

Basic and Diluted Loss per share

$

(0.04)

$

(0.02)

$

(0.06)

$

(0.03)










EBITDA

$

(567,696)

$

(56,153)

$

(1,129,350)

$

(153,673)

One-time settlement recorded in Q2


552,000


-


552,000


-

Adjusted EBITDA

$

(15,696)

$

(56,153)

$

(577,350)

$

(153,673)

Declining revenues are predominantly as a result of increased internet piracy and consumers shifting towards illegal digital IPTV set-top boxes. The Company is actively involved in fighting this negative trend. FAIR PLAY CANADA, a coalition with more than 25 organizations combating the impact illegal piracy is having on our subscription and advertising revenue, has been lobbying the Canadian Radio-television and Telecommunications Commission (CRTC) to establish an independent anti-piracy, website-blocking agency, which would curtail digital media theft. As the matter was out of CRTC's jurisdiction the Government of Canada has appointed an external Broadcasting and Telecommunications Legislative Review (BTLR) panel ("Panel") to review Canada's communication legislative framework. The Panel has set the date to conclude on the matter by January 30, 2020 and also planning on making public the Company's submission in the meanwhile as well.

In addition, as part of the industry's continuing efforts to battle the pervasive problem that piracy and illegal IPTV has posed to the industry, Bell and Rogers will be requesting a site blocking order against alleged 'pirate' IPTV provider GoldTV. The order, which is planned to formally be requested in September, will request various ISPs including Bell Media, Eastlink, Cogeco Inc., Rogers, Fido, Shaw Communications Inc., TekSavvy Solutions Inc., Telus Corp., and Videotron to block the GoldTV sites.

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

We are a Canadian media company. ATN serves Canada's diverse cultural communities with more than 50 premium specialty television channels. We are publicly traded on the Toronto Stock Exchange Venture (TSXV-SAT). For more information please visit www.asiantelevision.com

We seek safe harbor.

SOURCE Asian Television Network International Limited


These press releases may also interest you

at 13:22
Mexican companies create the most value in Latin America, Latin Trade's new rankings shows.  The Latin American Value Creators ranks the firms that create or destroy value by measuring their Economic Value Added (EVA). Mexican firms such as América...

at 13:21
Jaguar Mining Inc. ("Jaguar" or the "Company") today announced financial and operating results for the three months ("Q3 2019") and nine months ended September 30, 2019. Detailed financial results for Q3 2019 are available on www.sedar.com and on...

at 13:15
Panviva, a global leader in the customer experience (CX) and digital transformation space, is pleased to announce our Annual Top 25 Customer Experience Influencers to Follow list for 2019. For the second year, we have identified a list of the top CX...

at 13:15
Greenberg Traurig, LLP shareholders Barbara T. Kaplan, co-chair of the firm's Global Tax Practice and chair of its New York Tax Practice, and G. Michelle Ferreira, co-managing shareholder of the firm's San Francisco and Silicon Valley offices, will...

at 13:12
Metagenics, Inc., a health sciences company, announced today that it has expanded its U.S. sales force to additional states, in line with the company's business strategy of directly supporting its practitioners. Beginning today, the Metagenics sales...

at 13:09
Stratyfy Inc., a provider of interpretable Artificial Intelligence ("AI") products, has been selected by CNBC as one of the world's 100 most promising start-ups to watch in 2019.  Recognized as a leading innovator in the...



News published on 29 august 2019 at 19:45 and distributed by: