RICHMOND HILL, ONTARIO--(Marketwired - Oct. 1, 2013) - BFS Entertainment & Multimedia Limited (TSX VENTURE:BFS) ("BFS") of Richmond Hill, Ontario, announces its unaudited consolidated financial and operating results for the first quarter ended August 3, 2013.
Sales for the quarter were $2,099,044 compared to $2,155,939 during the same quarter last year. Net income for the quarter was $46,427 ($0.01 per share) compared to $41,929 ($0.01 per share) in the same quarter last year.
Denis B.E. Donnelly, President and CEO stated, "We are pleased to continue with a profitable first quarter and anticipate continued improving results."
| FINANCIAL HIGHLIGHTS | ||||
| (Unaudited and not reviewed by an auditor - in Canadian dollars) | ||||
| Thirteen weeks ended | ||||
| August 3, 2013 | August 4, 2012 | |||
| Sales | $ | 2,099,044 | $ | 2,155,939 |
| Cost of goods sold | 808,775 | 808,435 | ||
| Gross profit | 1,290,269 | 1,347,504 | ||
| Selling and administrative expenses | 1,148,241 | 1,202,224 | ||
| Amortization | 63,448 | 72,264 | ||
| Income from operations | 78,580 | 73,016 | ||
| Interest expense | 12,172 | 11,250 | ||
| Net finance charges | 12,172 | 11,250 | ||
| Income before income taxes | 66,408 | 61,766 | ||
| Income tax expense | 19,837 | 19,837 | ||
| Net income and comprehensive income | $ | 46,427 | $ | 41,929 |
| Basic and diluted earnings per share | $ | 0.01 | $ | 0.01 |
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, Collectables Direct Inc. (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)
Contact Information:
John Grzybowski, MBA, CPA, CA
Chief Financial Officer
(905) 884-2323
(905) 884-8292 (FAX)
ir@bfsent.com
www.bfsent.com