ATN profits top $5M, new broadcast centre to open in June

TORONTO – The year 2011 ended on a profitable note for Asian Television Network International (ATN) with net income up 164%. The broadcaster reported profits of $5.3 million for the 12 months ended December 31, 2011, up from $2.0 million at the end of 2010. Operating revenues grew 31% to $28 million, while earnings before interest, taxes, depreciation, and amortization (EBITDA) were $7.55 million, a 141% increase year-over-year. "We are very encouraged by the growth of our business and the trend this sets is a significant and positive sign for the future", said president and CEO Dr. Shan Chandrasekar, in...