China Digital TV Q1 2009 Net Profit Down 34%
China Digital TV PR, 5/13/09
Digital television conditional access solutions provider China Digital TV Holding (NYSE: STV) has announced its unaudited financial results for Q1 2009, with net revenues reaching USD 14.3 mln, down 17% year-on-year and 15% quarter-on-quarter.
Net income for the quarter came to USD 7.6 mln, down 33.6% YoY and 38.0% QoQ.
Revenues for the quarter from smart cards and related products were USD 13.5 mln, down 14.5% YoY and 12.3% QoQ. The year-over-year decrease was primarily due to the decreases in the average selling price (ASP) of smart cards in the past year. Sales of smart cards and related products accounted for 94.0% of total revenues for the quarter, up from 91.4% in the fourth quarter of 2008.
Revenues from services were USD 0.9 mln, down 43.9% YoY and 40.2% QoQ. The year-over-year and quarter-over-quarter decreases were primarily due to declines in system integration revenues, as fewer head-end CA systems were installed by the company.
The company estimates Q2 2009 revenues will range from USD 14.5 mln to USD 15.5 mln, representing a year-over-year decrease in the range of 20% to 25%.
To see China Digital TV's full earnings report, please click here.
Keywords: China Digital TV Holding conditional access Q1 2009 STV television DTV fiscal report profit revenue
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