TORONTO – Asian Television Network (ATN) reported net income of $770,194 on revenues of $6.29 million for the second quarter ended June 30, 2014.
While operating revenue dropped 8% year-over-year, net profits increased 13% over the same period in 2013, which the broadcaster attributed to an increase in advertising revenue coupled with a reduction in operating expenses. EBITDA for the quarter was $1.23 million, up 10% from $1.12 million year-over-year.
Broken down by segment, ATN's subscription revenues for the period dropped 9% to $4.92 million; advertising revenue fell 9% to $1.21 million; while programming revenue jumped 29% to $124,448.
ATN serves Canada’s diverse cultural communities with 51 premium specialty television channels, including its flagship general interest service ATN HD.
