BFS Entertainment & Multimedia Limited
TSX VENTURE : BFS

BFS Entertainment & Multimedia Limited

March 31, 2015 18:31 ET

BFS Entertainment & Multimedia Limited Announces Third Quarter Results

RICHMOND HILL, ONTARIO--(Marketwired - March 31, 2015) - 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 31, 2015.

Sales for the nine months were $6,628,064 compared to $7,901,784 last year and for the third quarter were $2,628,055 compared to $2,891,379 during the same quarter last year. Net loss for the nine months was $45,695 ($0.01 per share) compared to a net profit of $318,643 ($0.04 per share) for the same period last year. Net income for the third quarter was $101,852 ($0.01 per share) compared to $157,846 ($0.02 per share) for the same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "We are pleased to have returned to profitability this quarter as we continue to reduce costs."

FINANCIAL HIGHLIGHTS
(Unaudited and not reviewed by an auditor - in Canadian dollars)
Thirteen
Weeks Ended
Jan. 31, 2015
Thirteen
Weeks Ended
Feb. 1, 2014
Thirty-nine
Weeks Ended
Jan. 31, 2015
Thirty-nine
Weeks Ended
Feb. 1, 2014
Sales $ 2,628,055 $ 2,891,379 $ 6,628,064 $ 7,901,784
Cost of goods sold 933,694 1,044,447 2,523,466 2,870,938
Gross profit 1,694,361 1,846,932 4,104,598 5,030,846
Selling and administrative expenses 1,482,708 1,552,955 3,954,240 4,350,222
Amortization 58,560 70,360 165,498 206,979
Income (loss) from operations 153,093 223,617 (15,140 ) 473,645
Interest expense 15,650 9,682 49,671 33,310
Net finance charges 15,650 9,682 49,671 33,310
Income (loss) before income taxes 137,443 213,935 (64,811 ) 440,335
Income taxes expense (recovery) 35,591 56,089 (19,116 ) 121,692
Net income (loss) and comprehensive income (loss) $ 101,852 $ 157,846 $ (45,695 ) $ 318,643
Basic and diluted earnings (loss) per share $ 0.01 $ 0.02 $ (0.01 ) $ 0.04

BFS Entertainment & Multimedia Limited is a recognised independent North American entertainment company focusing on the acquisition, distribution and production of film and television media. Programming includes classic dramas, mystery, comedy, sports, documentaries and health and wellness. North American retail distribution is through national retailers, distributors, mail order companies, Collectables Direct (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