BFS Entertainment & Multimedia Limited

BFS Entertainment & Multimedia Limited

March 30, 2005 10:46 ET

BFS Entertainment & Multimedia Limited Announces Third Quarter Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BFS ENTERTAINMENT & MULTIMEDIA LIMITED

TSX VENTURE SYMBOL: BFS

MARCH 30, 2005 - 10:46 ET

BFS Entertainment & Multimedia Limited Announces Third
Quarter Results

RICHMOND HILL, ONTARIO--(CCNMatthews - March 30, 2005) - BFS
Entertainment & Multimedia Limited of Richmond Hill, (TSX VENTURE:BFS)
Ontario announces its unaudited consolidated financial and operating
results for the third quarter ended January 29, 2005.

Sales for the first nine months were $6,478,816 compared to $6,156,219
last year. Operating earnings were $658,855 compared to $944,749 last
year. Net earnings for the first nine months were $79,115 ($0.01 per
share) compared to $173,511 ($0.02 per share) for the same period last
year.

Sales for the third quarter were $2,280,914 compared to $2,280,829
during the same quarter last year. Operating earnings were $358,617
compared to $241,613 last year. Net earnings for the third quarter were
$114,796 ($0.01 per share) compared to $28,737 ($0.00 per share) in the
same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "We are pleased to be
able to maintain our gross margins, though the strength of the Canadian
dollar continues to have a negative impact on our historical
comparisons."



FINANCIAL HIGHLIGHTS
(unaudited) Thirty-nine Thirty-nine Thirteen Thirteen
Weeks Ended Weeks Ended Weeks Ended Weeks Ended
Jan. 29, Jan. 31, Jan. 29, Jan. 31,
2005 2004 2005 2004
---------------------------------------------------------------------
Sales $ 6,478,816 $ 6,156,219 $ 2,280,914 $ 2,280,829
Operating earnings
(EBITDA)(1) 658,855 944,749 358,617 241,613
Earnings before
income taxes 124,609 209,936 176,873 46,400
Income taxes 45,494 36,425 62,077 17,663
Net earnings 79,115 173,511 114,796 28,737

Basic and diluted
earnings per
share 0.01 0.02 0.01 0.00


(1) BFS uses operating earnings (EBITDA) to assess the operating performance
of its business. Operating earnings (EBITDA) represent earnings before
interest, income taxes and amortization. Operating earnings (EBITDA) do
not have a standardized meaning prescribed by generally accepted
accounting principles and therefore, are 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 entertainment home videos and DVDs for resale to
retail and catalogues throughout North America.

(SEC Rule 12g exemption #82-4245)

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    BFS Entertainment & Multimedia Limited
    John Grzybowski, MBA, CA
    Chief Financial Officer
    (905) 884-2323
    (905) 884-8292 (FAX)
    ir@bfsent.com
    Corporate Website: www.bfsent.com