BFS Entertainment & Multimedia Limited
TSX VENTURE : BFS

BFS Entertainment & Multimedia Limited

December 21, 2010 18:53 ET

BFS Entertainment & Multimedia Limited Announces Second Quarter Results

RICHMOND HILL, ONTARIO--(Marketwire - Dec. 21, 2010) - BFS Entertainment & Multimedia Limited of Richmond Hill, Ontario (TSX VENTURE:BFS) announces its unaudited consolidated financial and operating results for the second quarter ended October 30, 2010.

Sales for the first six months were $5,949,054 compared to $5,801,552 last year, a 3% increase. Net income for the first six months was $108,623 ($0.01 per share) compared to $34,612 ($0.00 per share) for the same period last year.

Sales for the second quarter were $3,472,258 compared to $3,484,977 during the same quarter last year. Net income for the second quarter was $140,476 ($0.02 per share) compared to $186,442 ($0.02 per share) in the same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "During the first six months of fiscal 2011, we are pleased to report that sales revenue grew by 3% in an environment of a strong Canadian dollar against the United States dollar. We continue to remain positive for the balance of this year."

FINANCIAL HIGHLIGHTS        
(unaudited and not reviewed by an auditor)  Twenty-Six Weeks Ended
Oct. 30, 2010
Twenty-Six Weeks Ended
Oct. 31, 2009
Thirteen
Weeks Ended
Oct. 30, 2010
Thirteen
Weeks Ended
Oct. 31, 2009
Sales $ 5,949,054 $ 5,801,552 $ 3,472,258 $ 3,484,977
Income before income taxes   170,531   80,730   207,309   292,155
Income taxes   61,908   46,118   66,833   105,713
Net income   108,623   34,612   140,476   186,442
                 
Basic and diluted earnings per share $ 0.01 $ 0.00 $ 0.02 $ 0.02

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 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)
    ir@bfsent.com
    www.bfsent.com