ATN sees 2014 profits fall 15% on soft ad sales

TORONTO - Asian Television Network (ATN) reported a net income of $366,245 on revenues of $6.81 million for the fourth quarter ended December 31, 2014.While operating revenue was virtually unchanged year-over-year, net profits tumbled 50% over the same period in 2013, which the broadcaster attributed to “stagnant” advertising revenue. EBITDA for the quarter was $667,307, down 42% from $1.15 million year-over-year.Broken down by segment, ATN's subscription revenues for the period grew 1% to $5.22 million; advertising revenue fell 3% to $1.47 million; and programming revenue climbed 13% to $99,478.For the 12 month period, the South Asian broadcaster posted a net income...