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 of $2.11 million on revenues of $26.43 million, which was down 15% and 3%, respectively, from the end of 2013. EBITDA fell 12% to $3.52 million from $4.01 million year-over-year, as an increase in subscription revenue was offset by a decline in advertising revenue.
ATN serves Canada’s diverse cultural communities with 54 premium specialty television channels, including its flagship general interest service ATN HD.
