Digital TV and conditional access (CA) systems provider China Digital TV (NYSE: STV) has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007. Total revenue for the quarter was USD 19.7 mln, up 102.4% YoY and 36.4% QoQ. Total revenue for the year was USD 55.8 mln, an increase of 82.0% from 2006.
Net income for the quarter increased 235.4% YoY and 46.5% QoQ to USD 12.9 mln, and net income for the year increased 160.3% to USD 33.8 mln.
China Digital TV shipped 2.6 mln smart cards during Q4 2007, an increase of 37.6% from Q3 2007. Revenues from smart cards and related products were USD 17.9 mln in Q4 2007, up 113.9% from the same period of 2006 and 39.6% from USD 12.8 mln in Q3 2007. Sales of smart cards and related products made up 90.8% of the total revenues for this quarter.
For the full year 2007, revenues from smart cards and related products were USD 49.7 mln, up 88.1% from 2006. Sales of smart cards and related products made up 89.2% of total revenues for the year. China Digital TV shipped 7.3 mln smart cards over full year 2007, an increase of 85.5% from 2006. During the year, the company signed 47 new conditional access installation contracts.
Net revenue for Q1 is expected to be in the range of USD 15-17 mln.
To see China Digital TV Holding's full earnings report, please click here.