TORONTO – Asian Television Network (ATN) reported a net income of $538,417 on revenues of $6.84 million for the fourth quarter ended December 31, 2015.
While operating revenue was virtually unchanged year-over-year, net profits jumped 47% over the same period in 2014, which the broadcaster attributed to a surge in advertising revenue as a result of a stronger advertising market. EBITDA for the quarter was $963,003, up 44% from $667,306 year-over-year.
Broken down by segment, ATN's subscription revenues for the period fell 5% to $4.94 million; advertising revenue increased 16% to $1.70 million; and programming revenue climbed 72% to $189,505.
For the 12 month period, the South Asian broadcaster posted a net income of $1.86 million on revenues of $26.10 million, which was down 12% and 1%, respectively, from the prior year. EBITDA fell 4% to $3.37 million from $3.52 million year-over-year, due in part to a decline in subscription revenues and increases in advertising and programming revenues.
ATN serves Canada’s diverse cultural communities with 54 premium specialty television channels, including its flagship general interest service ATN HD.
