BFS Entertainment & Multimedia Limited

BFS Entertainment & Multimedia Limited

December 27, 2007 09:00 ET

BFS Entertainment & Multimedia Limited Announces Second Quarter Results

RICHMOND HILL, ONTARIO--(Marketwire - Dec. 27, 2007) - BFS Entertainment & Multimedia Limited (TSX VENTURE:BFS) of Richmond Hill, Ontario announces its unaudited consolidated financial and operating results for the second quarter ended November 3, 2007.

Sales for the first six months were $4,630,256 compared to $5,505,457 last year, a 16% decrease. Net earnings for the first six months were $150,504 ($0.02 per share) compared to net earnings of $424,916 ($0.05 per share) for the same period last year.

Sales for the second quarter were $2,679,554 compared to $3,334,832 during the same quarter last year, a 20% decrease. Net earnings for the second quarter were $93,794 ($0.01 per share) compared to $295,111 ($0.04 per share) in the same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "Our lower sales revenue and earnings compared to the prior year reflect the impact of a weaker United States dollar and a softer United States economy. The company is actively developing areas of growth within the direct to consumer division and is confident it will provide BFS with incremental revenue and increased earnings in 2008."

(unaudited and Twenty-six Twenty-six Thirteen Thirteen
not reviewed Weeks Ended Weeks Ended Weeks Ended Weeks Ended
by an auditor) Nov. 3, 2007 Nov. 4, 2006 Nov. 3, 2007 Nov. 4, 2006
Sales $ 4,630,256 $ 5,505,457 $ 2,679,554 $ 3,334,832
Earnings before
income taxes 246,448 651,885 144,868 445,535
Income taxes 95,944 226,969 51,054 150,424
Net earnings 150,504 424,916 93,794 295,111

Basic and
diluted earnings
per share $ 0.02 $ 0.05 $ 0.01 $ 0.04

BFS is a recognized independent manufacturer and distributor of home video with head office in Toronto, Ontario and sales office in Los Angeles, California.

BFS acquires exclusive rights to film and television programming for home video distribution and broadcast where applicable. Distribution rights are obtained by license, acquisition and co-production from various independent production and television broadcast companies. These programming rights are developed into home video products for North American distribution and where applicable, are licensed internationally.

Programming includes classic dramas, mystery, comedy, sports, documentaries and health and wellness and is sold under the BFS Video, American Home Treasures and Bodhi Lifestyle™ brands. North American distribution is through national retailers, distributors, mail order companies and BFS' direct to consumer division.

BFS' strategy is to continue to acquire new programming and to expand its proprietary programme development, international distribution and direct to consumer electronic delivery.

(SEC Rule 12g exemption #82-4245)

Contact Information

  • BFS Entertainment & Multimedia Limited
    John Grzybowski, MBA, CA
    Chief Financial Officer
    (905) 884-2323
    (905) 884-8292 (FAX)