ATN sees 2013 profits drop 15%

TORONTO - Asian Television Network (ATN) reported net income of $2.49 million on revenues of $27.37 million for the 12 months ended December 31, 2013.Profits plunged 15% and revenue was down 1% from $2.91 million and $27.76 million, respectively, from 2012 figures which the broadcaster attributed to a revenue adjustment and a decline in advertising revenue.Broken down by segment, ATN's subscription revenues for 2013 were flat year-over-year at $21.2 million, advertising revenue dropped 7% to $5.7 million, and programming revenue was up 3% to $ 406,474.ATN serves Canada’s diverse cultural communities with 51 premium specialty television channels, including its flagship general interest service...