ATN sees Q1 profits fall 44%

TORONTO - Asian Television Network (ATN) reported a net income of $200,653 on revenues of $6.1 million for the first quarter ended March 31, 2016.Consolidated operating revenue declined 2% year-over-year to $6.09 million and profits plunged 44% to $200,653 over the same period in 2015, due mainly to declining revenues from operations. EBITDA for the quarter was $507,983, down 26% from $685,224 year-over-year.Broken down by segment, ATN's subscription revenues for the period dropped 8% to $4.76 million; advertising revenue jumped 25% to $1.17 million; and programming revenue increased 37% to $148,395.ATN serves Canada’s diverse cultural communities with 54 premium specialty television...