China Digital TV Q1 Profit Up 84%
China Digital TV Press Release, 5/14/08
Chinese conditional access (CA) systems provider China Digital TV Holding (NYSE: STV) has announced its unaudited financial results for Q1 2008, with net revenues reaching USD 17.4 mln, up 65.7% year-on-year but down 11.7% quarter-on-quarter.
Net income for the quarter came to USD 11.4 mln, up 84.1% YoY but down 11.5% QoQ.
Quarterly revenues from smart cards and related products were USD 15.8 mln, an increase of 75.6% from the same period of 2007 and a decrease of 11.4% from Q4 2007. China Digital TV sold 2.3 mln smart cards during Q1 2008, up 78.3% YoY, but down 11.5% from Q4 2007.
Revenues from services during the period were USD 1.6 mln an increase of 5.0% year-on-year, but a decrease of 14.9 quarter-on-quarter.
Lu Zengxiang, chairman and chief strategy officer, commented that due to strong smart card revenues the company has invested heavily in its subsidiary, Beijing Novel-Super Media Investment, which focuses on PC-TV services and electronic program guide (EPG) based advertising platforms.
China Digital TV estimates Q2 2008 revenues will be in the range of USD 17.5 mln to USD 19.5 mln, representing year-over-year growth of 57.2% to 75.2%. It also reiterates its expectation of net revenues for the full year 2008 to be in the range of USD 79 mln to USD 84 mln, representing year-over-year growth of 42.5% to 51.5%.
Editor's Note: To view the full version of China Digital TV's Q1 2008 earning report, please click here.
Keywords: fiscal report Novel-Super Media China Digital TV Holding conditional access EPG Q1 2008 STV television DTV sales volume smart card
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