BFS blames south for lower earnings

Richmond Hill-based BFS Entertainment & Multimedia Limited blamed a weaker greenback for slicing earnings in half in fiscal 2010.

Richmond Hill-based BFS Entertainment & Multimedia Limited blamed a weaker greenback for slicing earnings in half in fiscal 2010.

The Toronto-area company reported net income of $113,602 or two cents per share in 2010, compared with $331,971 or four cents per share in fiscal 2009. Revenue in the year ended May 31 was $12.5 million, about $1 million more than the $11.5 million it reported in fiscal 2009.

“We are pleased to have achieved a nine per cent increase in sales over the prior year while having to contend with the falling value of the United States dollar, versus the Canadian dollar,” said president and CEO Denis Donnelly, who noted the U.S. accounts for 80 per cent of the company’s revenue.

BFS Entertainment & Multimedia Ltd. focuses on the acquisition, distri­bution and production of film and television media.