TORONTO – With a sports channel in the offing, Asian Television Network announced increased revenue and EBITDA for the quarter ended September 30th.
Revenue went up by 36.6% to $2.8 million, as compared to Q4 2005, while EBUTDA was $1.05 million, a 40% jump.
"The Company’s focus has been and continues to be to strike a fine balance between continuing expansion of its operation and deployment of new capital and debt reduction," says the press release. "It has stayed on that course over the past few years. The continuing growth of the Company and its revenue and earnings together with the availability of its past tax losses have helped in providing the necessary cash flow," says the press release.
The policy of controlled expansion in tandem with measured debt reduction has now put the Company in a comfortable position of having a capacity of raising new capital through institutional lenders, if and when it found it necessary to do so to pursue its business plans, said the company’s press release.
"The company has continued with its plans of growth through engaging the market on new fronts and gaining a better penetration of the market through continuing enrichment of its programming which is the heart of this industry.
"The Company has during this third quarter signed an agreement and launched on October 2, 2006 STAR PLUS programming segments on its ATN channel. STAR PLUS is India’s No. 1 satellite channel and has redefined Hindi television entertainment. STAR is a wholly owned subsidiary of News Corporation, a Rupert Murdoch Company.
The company will launch very soon a sports channel, too, it added. "This will enable ATN to continue to diversify and enhance the interest in the programming we offer on our existing 13 channels across Canada. We plan to continue the launch in 2007 of other channels that offer impressive new programming," says the press release.
