BFS Entertainment & Multimedia Limited
TSX VENTURE : BFS

BFS Entertainment & Multimedia Limited

October 01, 2013 18:37 ET

BFS Entertainment & Multimedia Limited Announces First Quarter Results

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

  • BFS Entertainment & Multimedia Limited
    John Grzybowski, MBA, CPA, CA
    Chief Financial Officer
    (905) 884-2323
    (905) 884-8292 (FAX)
    ir@bfsent.com
    www.bfsent.com