China Digital TV Records Q3 2012 Loss of USD 11 Mln
China Digital TV PR, 11/20/12
DTV conditional access system provider China Digital TV Holding (NYSE: STV) has announced its financial results for the three months ended September 30, 2012. Q3 2012 net revenues were USD 20.4 mln, a decrease of 21.4% YoY from the third quarter of 2011 and a decrease of 13.3% QoQ from the second quarter of 2012.
Net loss attributable the company was USD 11.4 mln, as compared to a net income of USD 10.3 mln in the same period in 2011 and a net income of USD 7.1 in the second quarter of 2012.
Revenues from smart cards and other products were USD 19.6 mln, a decrease of 21.2% YoY from the same period in 2011 and a decrease of 12.0% QoQ from the second quarter of 2012. Sales of smart cards and other products accounted for 94.8% of total revenues in the third quarter of 2012, as compared to 93.7% in the second quarter of 2012. The YoY decrease was principally due to a decrease in the shipment volume of smart cards. The QoQ decrease was primarily due to a decrease in the sales of other products, such as multimedia home entertainment boxes and surface mounted device chipsets.
Revenues from services were USD 1.1 mln in the third quarter of 2012, a decrease of 20.6% YoY from the same period in 2011 and a decrease of 28.5% QoQ from the second quarter of 2012. Service revenues accounted for 5.2% of total revenues in the third quarter of 2012. The YoY and QoQ decreases were primarily due to decreases in revenue from head-end system integration, licensing income and royalty income.
China Digital TV shipped approximately 3.84 mln smart cards in the third quarter of 2012, as compared to 4.66 mln in the same period in 2011 and 3.74 mln in the second quarter of 2012.
In the third quarter of 2012, revenues from the company's top five customers accounted for 22.9% of total revenues, as compared to 27.8% in the second quarter of 2012.
China Digital TV expects smart card shipment volume for the fourth quarter of 2012 to be in the range of 3.6 mln to 3.9 mln. Net revenues for the fourth quarter of 2012 are expected to be in the range of USD 19.3 mln to USD 20.9 mln.
To view the complete report please see here.
Keywords: loss revenue television China Digital TV Holding DTV conditional access system integration smart card head-end Q3 2012 fiscal report
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