Welcome!

News Feed Item

BFS Entertainment & Multimedia Limited Announces Results for Fiscal 2014

RICHMOND HILL, ONTARIO -- (Marketwired) -- 08/29/14 -- BFS Entertainment & Multimedia Limited ("BFS") (TSX VENTURE:BFS) of Richmond Hill, Ontario, announces its audited consolidated financial and operating results for the fiscal year ended May 3, 2014.

Sales for the fiscal year were $9,002,995 compared to $9,910,037 last year. Net loss for the fiscal year was $125,169 ($0.02 per share) compared to net income of $67,052 ($0.01 per share) for the same period last year.

Denis B.E. Donnelly, President and CEO, stated, "The Company is adjusting to a new marketplace. We have increased our (so far unexploited) digital library to approximately 1,000 hours of programming. No digital sales were recorded in fiscal 2014, but contracts have been signed and are now in place with digital distribution companies such as Apple TV and iTunes, Amazon Instant Video and Vimeo On Demand. We expect to see digital revenues during the second half of fiscal 2015.

"We have reduced costs and are currently adjusting our operating model to support the new business and to return us to a profitable position.

"Our long term outlook is optimistic that we will remain a key long-term player in the distribution of programming regardless of delivery mode as we move forward in the digital world and hard goods and also grow our direct to consumer business."


----------------------------------------------------------------------------
----------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS                                  Fiscal years ended    
(Audited - in Canadian dollars)                    May 3, 2014   May 4, 2013
----------------------------------------------------------------------------
Sales                                             $  9,002,995  $  9,910,037
Cost of goods sold                                   3,482,053     3,683,873
----------------------------------------------------------------------------
Gross profit                                         5,520,942     6,226,164
----------------------------------------------------------------------------
Selling and administrative expenses                  5,383,879     5,742,535
Amortization                                           268,441       329,342
----------------------------------------------------------------------------
Income (loss) from operations                         (131,378)      154,287
----------------------------------------------------------------------------
Interest expense                                        48,032        43,269
----------------------------------------------------------------------------
Net finance charges                                     48,032        43,269
----------------------------------------------------------------------------
Income (loss) before income taxes                     (179,410)      111,018
Income taxes expense (recovery)                        (54,241)       43,966
----------------------------------------------------------------------------
Net income (loss) and comprehensive income (loss) $   (125,169) $     67,052
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Basic and diluted earnings (loss) per share       $      (0.02) $       0.01
----------------------------------------------------------------------------
----------------------------------------------------------------------------

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(TM) brands. 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)

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
New Relic, Inc. has announced a set of new features across the New Relic Software Analytics Cloud that offer IT operations teams increased visibility, and the ability to diagnose and resolve performance problems quickly. The new features further IT operations teams’ ability to leverage data and analytics, as well as drive collaboration and a common, shared understanding between teams. Software teams are under pressure to resolve performance issues quickly and improve availability, as the comple...
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, will draw upon their own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He will also discuss the implementation of microservices in data and applicat...
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
As you respond to increasing requests for new analytics, you need fast and flexible technology in your arsenal so that you can deploy the right workload to the right platform for the need at hand. Do you need self-service and fast time to value? Do you have data and application control and privacy needs, along with strict SLAs to meet? IBM dashDB™ is data warehouse technology powered by in-memory computing and in-database analytics that are designed for fast results, scalability and more.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
The paradigm has shifted. A Gartner survey shows that 43% of organizations are using or plan to implement the Internet of Things in 2016. However, not just a handful of companies are still using the old-style ad-hoc trial-and-error ways, unaware of the critical barriers, paint points, traps, and hidden roadblocks. How can you become a winner? In his session at @ThingsExpo, Tony Shan will present a methodical approach to guide the holistic adoption and enablement of IoT implementations. This ov...