BFS Entertainment & Multimedia Limited
TSX VENTURE : BFS

BFS Entertainment & Multimedia Limited

March 27, 2009 13:56 ET

BFS Entertainment & Multimedia Limited Announces Third Quarter Results

RICHMOND HILL, ONTARIO--(Marketwire - March 27, 2009) - BFS Entertainment & Multimedia Limited (TSX VENTURE:BFS) of Richmond Hill, Ontario announces its unaudited consolidated financial and operating results for the third quarter and nine months ended January 31, 2009.

Sales for the nine months were $8,145,673 compared to $7,457,732 last year, a 9% increase. Net and comprehensive income for the nine months was $207,085 ($0.03 per share) compared to $305,481 ($0.04 per share) for the same period last year.

Sales for the third quarter were $3,407,837 compared to $2,827,476 during the same quarter last year, a 21% increase. Net and comprehensive income for the third quarter was $179,441 ($0.02 per share) compared to $154,977 ($0.02 per share) in the same quarter last year.

Denis B.E. Donnelly, President and CEO stated, "We have had continued success in maintaining our revenue base and we remain positive for the balance of this year and for next year. As the majority of our customers are in the U.S., the weakened Canadian dollar against the United States dollar has had a favourable impact on our sales."



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FINANCIAL HIGHLIGHTS
(unaudited and not
reviewed by an Thirty-Nine Thirty-Nine Thirteen Thirteen
auditor) Weeks Ended Weeks Ended Weeks Ended Weeks Ended
Jan. 31, 2009 Feb. 2, 2008 Jan. 31, 2009 Feb. 2, 2008
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Sales $8,145,673 $7,457,732 $3,407,837 $2,827,476
Income before
income taxes 325,169 500,980 275,249 254,532
Income taxes 118,084 195,499 95,808 99,555
Net and
comprehensive
income 207,085 305,481 179,441 154,977
Basic and diluted
earnings per
share $0.03 $0.04 $0.02 $0.02
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BFS is a recognised independent manufacturer and distributor of home video with head office in Toronto, Ontario and sales office in Los Angeles, California.

BFS acquires exclusive rights to film and television programming for home video distribution and broadcast where applicable. Distribution rights are obtained by license, acquisition and co-production from various independent production and television broadcast companies. These programming rights are developed into home video products for North American distribution and where applicable, are licensed internationally.

Programming includes classic dramas, mystery, comedy, sports, documentaries and health and wellness and is sold under the BFS Video, American Home Treasures and Bodhi Lifestyle™ brands. North American 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 electronic 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)
    Corporate Website: www.bfsent.com