BFS Entertainment & Multimedia Limited Announces Second Quarter Results
December 23 2013 - 5:10PM
Marketwired
BFS Entertainment & Multimedia Limited Announces Second Quarter
Results
RICHMOND HILL, ONTARIO--(Marketwired - Dec 23, 2013) - BFS
Entertainment & Multimedia Limited (TSX-VENTURE:BFS) announces
its unaudited consolidated financial and operating results for the
second quarter ended November 2, 2013.
Sales for the first
six months were $5,010,405 compared to $5,064,395 last year and for
the second quarter were $2,911,361 compared to $2,908,456 during
the same quarter last year. Net income for the first six months was
$160,797 ($0.02 per share) compared to $141,947 ($0.02 per share)
for the same period last year. Net income for the second quarter
was $114,370 ($0.02 per share) compared to $100,018 ($0.01 per
share) for the same quarter last year.
Denis B.E. Donnelly,
President and CEO stated, "We are pleased to report a 13% increase
in net income compared to the same period last year, an increase to
$160,797 from $141,947."
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FINANCIAL HIGHLIGHTS |
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(Unaudited and not reviewed by an auditor - in
Canadian dollars) |
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Thirteen Weeks Ended Nov. 2, 2013 |
|
Thirteen Weeks Ended Nov. 3, 2012 |
|
Twenty-six Weeks Ended Nov. 2, 2013 |
|
Twenty-six Weeks Ended Nov. 3, 2012 |
Sales |
$ |
2,911,361 |
$ |
2,908,456 |
$ |
5,010,405 |
$ |
5,064,395 |
Cost of goods sold |
|
1,017,716 |
|
1,123,971 |
|
1,826,491 |
|
1,932,406 |
Gross profit |
|
1,893,645 |
|
1,784,485 |
|
3,183,914 |
|
3,131,989 |
Selling and administrative expenses |
|
1,649,026 |
|
1,555,736 |
|
2,797,267 |
|
2,757,960 |
Amortization |
|
73,171 |
|
76,438 |
|
136,619 |
|
148,702 |
Income from operations |
|
171,448 |
|
152,311 |
|
250,028 |
|
225,327 |
|
Interest expense |
|
11,456 |
|
10,659 |
|
23,628 |
|
21,909 |
Net finance charges |
|
11,456 |
|
10,659 |
|
23,628 |
|
21,909 |
|
Income before income taxes |
|
159,992 |
|
141,652 |
|
226,400 |
|
203,418 |
Income taxes expense |
|
45,622 |
|
41,634 |
|
65,603 |
|
61,471 |
Net income and comprehensive income |
$ |
114,370 |
$ |
100,018 |
$ |
160,797 |
$ |
141,947 |
Basic and diluted income per share |
$ |
0.02 |
$ |
0.01 |
$ |
0.02 |
$ |
0.02 |
BFS Entertainment
& Multimedia Limited is a recognised independent North American
entertainment company focusing on the acquisition, distribution and
production of film and television media with head office in
Toronto, Ontario.
Programming includes
classic dramas, mystery, comedy, sports, documentaries and health
and wellness and is sold under the BFS, American Home Treasures and
Bodhi Lifestyle™ brands. North American retail distribution is
through national retailers, distributors, mail order companies and
BFS' direct to consumer division and e-commerce websites.
BFS' strategy is to
continue to acquire new programming and to expand its proprietary
programme development, international distribution and direct to
consumer delivery, including electronic delivery and streaming.
(SEC Rule 12g exemption #82-4245)
BFS Entertainment & Multimedia LimitedJohn Grzybowski, MBA,
CPA, CAChief Financial Officer(905) 884-2323(905)
884-8292ir@bfsent.comwww.bfsent.com
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