BFS Entertainment & Multimedia Ltd
SymbolBFS
Shares Issued7,524,333
Close 2009-09-17C$ 0.20
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BFS Entertainment loses $144,447 in Q1 fiscal 2010

2009-09-29 14:39 ET - News Release

Mr. John Grzybowski reports

BFS ENTERTAINMENT & MULTIMEDIA LIMITED ANNOUNCES FIRST QUARTER RESULTS

BFS Entertainment & Multimedia Ltd. has provided its unaudited consolidated financial and operating results for the first quarter of fiscal 2010 ended Aug. 1, 2009.

Sales for the quarter were $2,316,575 compared with $1,967,096 during the same quarter last year, an increase of 18 per cent. Net loss for the quarter was $144,447 (two cents per share) compared with a net loss of $157,153 (two cents per share) in the same quarter last year.

Denis Donnelly, president and chief executive officer of BFS, stated: "During the first quarter of fiscal 2010, we were able to successfully grow our sales revenue by 18 per cent in a recessionary global economy and we remain positive for the balance of this year. As the majority of our customers are in the United States, the strengthening Canadian dollar against the U.S. dollar has had an unfavourable impact on our first quarter results."

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