ATN sees Q3 profits drop 22%

TORONTO - Asian Television Network (ATN) reported a net income of $491,695 on revenues of $6.6 million for the third quarter ended September 30, 2015.Operating revenue declined 6% year-over-year to $6.6 million and net profits fell 22% to $ 491,695 over the same period in 2014, due in part to higher marketing and distribution costs. EBITDA for the quarter was $882,736, down 11% from $ 996,549 year-over-year.Broken down by segment, ATN's subscription revenues for the period dropped 6% to $5.04 million; advertising revenue decreased 7% to $1.49 million; and programming revenue jumped 42% to $148,615.ATN serves Canada’s diverse cultural communities with...