BFS Entertainment & Multimedia Limited
TSX VENTURE : BFS

BFS Entertainment & Multimedia Limited

April 04, 2006 12:04 ET

BFS Entertainment & Multimedia Limited Announces Third Quarter Results

RICHMOND HILL, ONTARIO--(CCNMatthews - April 4, 2006) - BFS Entertainment & Multimedia Limited (TSX VENTURE:BFS) of Richmond Hill, Ontario announces its unaudited consolidated financial and operating results for the third quarter ended February 4, 2006.

Sales for the first nine months were $7,931,420 compared to a restated $6,371,307 for the same period last year, a 24% increase. Net earnings for the first nine months were $386,361 ($0.05 per share) compared to restated net earnings of $79,928 ($0.01 per share) for the same period last year, a 383% increase.

Sales for the third quarter were $3,287,673 compared to a restated $2,108,163 during the same quarter last year, a 56% increase. Net earnings for the third quarter were $249,669 ($0.03 per share) compared to a restated $60,842 ($0.01 per share) in the same quarter last year, a 310% increase.

Denis B.E. Donnelly, President and CEO stated, "We are very pleased with our third quarter results. The continued success of our consumer catalogue coupled with the elimination of VHS and the savings from our general overhead cost control program have contributed to a substantial increase in the nine month earnings from last year."



Thirty-nine Thirty-nine Thirteen Thirteen
Unaudited and Weeks Ended Weeks Ended Weeks Ended Weeks Ended
not reviewed Feb. 4, Jan. 29, Feb. 4, Jan. 29,
by an auditor 2006 2005 2006 2005
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Restated Restated

Sales $ 7,931,420 $ 6,371,307 $ 3,287,673 $ 2,108,163
Earnings
before income
taxes 631,860 125,881 392,867 92,409
Income taxes 245,499 45,953 143,198 31,567
Net earnings 386,361 79,928 249,669 60,842

Basic and
diluted
earnings per
share $ 0.05 $ 0.01 $ 0.03 $ 0.01
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The financial information included in this release is qualified in its entirety by and should be read together with the unaudited consolidated financial statements for the thirty-nine weeks ended February 4, 2006 and the notes thereto as filed on SEDAR.

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)


Contact Information

  • 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