TORONTO – Led by a growing stable of digital specialty channels, Asian Television Network posted large increases in revenue and earnings.
Revenues for first nine months of 2005, ended September 30th, were $4.96 million as compared to $3.5 million for the first nine months of 2004. ATN’s nine-months of 2005 revenue actually equals the full 12 months revenue from 2004.
Earnings before amortization and financial expenses (EBITDA) were $1.55 million or 6.5 cents per share, compared with $734,647 or 3.1 cents per share for the same period last year, a 112.2% year over year.
ATN shares traded at 55-cents today, a 52-week high.
"We believe that this trend of increasing net earnings for the company through our outstanding growth in revenue and cost control over the past 3 years is now long term" said Shan Chandrasekar president and CEO.
ATN owns and or operates eleven channels: ATN, ATN-ZEE, ATN – ZEE Cinema, ATN – ZEE Gujarati, ATN-Aastha, ATN Bangla, ATN- B4U, ATN-Alpha ETC Punjabi, ATN-Jaya TV, ATN-ARY, CBN, and Sony Entertainment Television.
