China Digital TV Holding Q2 2009 Profit Down 39% YoY
PR Newswire, 8/07/09
Digital television conditional access system provider China Digital TV Holding (NYSE: STV) has announced its unaudited financial results for the second quarter ended June 30, 2009. The company recorded net revenues of USD 14.6 mln, down 24.7% YoY but up 1.9% QoQ, for net income of USD 6.8 mln, down 39.3% YoY and 9.7% QoQ.
Revenues generated from smart cards and related products were USD 12.6 mln, a decrease of 30.3% from the corresponding period in 2008 and a decrease of 6.9% from the first quarter of 2009. Sales of smart cards and related products accounted for 85.9% of total revenues for the quarter, down from 94.0% in the first quarter of 2009. The YoY decrease was primarily due to decreases in both volume and the average selling price (ASP) of smart cards. The QoQ decrease was primarily due to a decrease in the volume of shipments of smart cards in Q2, which was partially offset by an increase in ASP.
For the third quarter, the company expects sales volume of smart cards between 1.85 mln to 2.25 mln, for net revenues of between USD 11.8 mln and USD 14 mln, a YoY decrease of 17% to 30%.
Keywords: Q2 2009 profit television China Digital TV Holding conditional access sales volume revenue fiscal report DTV smart card guidance
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