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 a statement.
In related news, ATN announced plans for a multi-channel master control center when its new Broadcast Centre opens in Markham, ON in June. Harris Broadcast Communications and systems integration company Broadcast Systems & Equipment are working together to bring the project to completion as ATN transitions to HDTV and prepares for continued expansion.
ATN today offers 34 specialty television channels including general entertainment, movies, sports, news, music, lifestyle and spiritual programming in numerous languages serving Canada's South Asian community.
