BFS Entertainment & Multimedia Limited

BFS Entertainment & Multimedia Limited

October 05, 2005 14:37 ET

BFS Entertainment & Multimedia Limited Announces First Quarter Results

RICHMOND HILL, ONTARIO--(CCNMatthews - Oct. 5, 2005) - BFS Entertainment & Multimedia Limited (TSX VENTURE:BFS), announced its unaudited consolidated financial and operating results for the first quarter ended August 6, 2005.

Sales for the quarter were $1,876,993 compared to $1,808,892 during the same quarter last year, representing an increase of 4%. Operating earnings were $135,871 compared to $117,913 last year. Net earnings for the quarter were $394 ($0.00 per share) compared to a net loss of $41,991 ($0.01 per share) in the same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "Historically, our first quarter (of the fiscal year) has been our weakest, but in fiscal 2006 we have improved this position and reached a breakeven situation.

We continue to look for and to add quality programming to control our costs as we work towards a more profitable future."

FINANCIAL HIGHLIGHTS (unaudited) Thirteen weeks ended
August 6, 2005 July 31, 2004
Sales $ 1,876,933 $ 1,808,892
Operating earnings (EBITDA)(1) 135,871 117,913
Earnings (loss) before income taxes 585 (63,180)
Income taxes (recovered) 191 (21,189)
Net earnings (loss) 394 (41,991)

Basic and diluted earnings (loss) per share 0.00 (0.01)

(1) BFS uses operating earnings (EBITDA) to assess the operating performance of its business. Operating earnings (EBITDA) represents earnings before interest, income taxes and amortization. Operating earnings (EBITDA) do not have a standardized meaning prescribed by generally accepted accounting principles and therfore, is unlikely to be comparable to operating earnings (EBITDA) as reported by other publicly traded companies.

BFS Entertainment & Multimedia Limited manufactures, markets and distributes under the BFS Video and American Home Treasures video labels, a wide range of home entertainment DVDs for resale to retail and catalogues throughout North America.

(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)