Weak ad market cuts in to profits at ATN

TORONTO - Asian Television Network (ATN) reported net income of $341,764 on revenues of $6.33 million for the first quarter ended March 31, 2014.Revenue and net profits dropped 7% and 38%, respectively over the same period in 2013, which the broadcaster attributed to a decline in advertising revenue. EBITDA for the quarter was $627,661, down 31% from $911,389 year-over-year.Broken down by segment, ATN's subscription revenues for the period increased 1% to $5.37 million; advertising revenue dropped 37% to $834,215; and programming revenue fell 36% to $110,713.ATN serves Canada’s diverse cultural communities with 51 premium specialty television channels, including its flagship general...