ATN REVENUES JUMP
By Adnews Staff
Asian Television Network International Ltd. of Newmarket, Ont. has reported a 24% jump in revenues for the six-month period ending June 30. Revenues were $748,796, compared to $602,704 for the same period last year. Revenues for the second quarter were $393,705, compared to $455,883 last year. Overall, ATN showed a net loss of $520,680 in the three months ending June 30, compared to a net loss of $363,382 during the same period in 1997. The net loss for the first six months of the year was $854,898, compared to $822,601. The loss is attributed to low gross margins on satellite dishes sold in Canada and the additional cost of initiatives taken to grow ATN's subscriber base. ATN owns and operates a specialty multilingual, multicultural television network primarily aimed at the South Asian community in Canada the U.S. and the Caribbean. Recently, ATN has been increasing its distribution. It is now carried on Shaw Cablesystems in Toronto and Calgary, and on Delta Cable in B.C., as well as on Look TV in Southern Ontario.