BFS Entertainment & Multimedia Limited

BFS Entertainment & Multimedia Limited

March 30, 2010 16:33 ET

BFS Entertainment & Multimedia Limited Announces Third Quarter Results

RICHMOND HILL, ONTARIO--(Marketwire - March 30, 2010) - BFS Entertainment & Multimedia Limited (TSX VENTURE:BFS) of Richmond Hill, Ontario announces its unaudited consolidated financial and operating results for the third quarter ended January 30, 2010.

Sales for the first nine months were $9,282,190 compared to $8,145,673 last year, a 14% increase. Net income for the first nine months was $49,276 ($0.01 per share) compared to $207,085 ($0.03 per share) for the same period last year.

Sales for the third quarter were $3,480,638 compared to $3,407,837 during the same quarter last year. Net income for the third quarter was $3,950 ($0.00 per share) compared to $179,441 ($0.02 per share) in the same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "For the first nine months of fiscal 2010, we are pleased to report that sales revenue grew by 14% and we continue to remain positive for the balance of this year. As the majority of our customers are in the United States, the strengthening Canadian dollar against the United States dollar, compared to last year, continues to have an unfavourable impact on our earnings for the first nine months."

FINANCIAL HIGHLIGHTS Thirty-Nine Thirty-Nine Thirteen Thirteen
(unaudited and not reviewed by an auditor) Weeks Ended Weeks Ended Weeks Ended Weeks Ended
  Jan. 30, 2010 Jan. 31, 2009 Jan. 30, 2010 Jan. 31, 2009
Sales $ 9,282,190 $ 8,145,673 $ 3,480,638 $ 3,407,837
Income before income taxes   100,015   325,169   8,571   275,249
Income taxes   50,739   118,084   4,621   95,808
Net income   49,276   207,085   3,950   179,441
Basic and diluted earnings per share $ 0.01 $ 0.03 $ 0.00 $ 0.02

BFS is a recognised independent manufacturer and distributor of home video with head office in Toronto, Ontario.

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 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)