China Digital TV Q2 2012 Profit Down 37% YoY
China Digital TV Holding, 8/21/12
DTV conditional access system provider China Digital TV Holding (NYSE: STV) today announced its unaudited financial results for the second quarter ended June 30, 2012. Q2 2012 revenue was USD 23.5 mln, a decrease of 5% YoY from Q2 2011 and an increase of 8.0% QoQ from Q1 2012. The YoY decrease was principally due to a decrease in the shipment volume of smart cards, and was partially offset by an increase in the sale of other products, such as multimedia home entertainment boxes, surface mounted device chipsets and integrated chips. The QoQ increase was primarily due to an increase in the sales of other products, such as multimedia home entertainment boxes and surface mounted device chipsets.
Q2 2012 net income attributable to China Digital TV was USD 7.1 mln, a decrease of 37.0% YoY from the same period in 2011 and an increase of 2.5% QoQ from Q1 2012.
Revenues from smart cards and other products were USD 22.3 mln in Q2 2012, a decrease of 6.4% YoY from the same period in 2011 and an increase of 4.8% QoQ from Q1 2012. Sales of smart cards and other products accounted for 93.7% of total revenues in Q2 2012.
Revenues from services were USD 1.5 mln in Q2 2012, an increase of 16.7% YoY from the same period in 2011 and an increase of 82.2% QoQ from Q1 2012. Service revenues accounted for 6.3% of total revenues in Q2 2012. The YoY increase was mainly attributable to an increase in head-end system integration. The QoQ increase was primarily due to an increase in revenue from head-end system integration and licensing income.
China Digital TV shipped approximately 3.74 mln smart cards in Q2 2012, compared to 4.64 mln in the same period in 2011 and 3.70 mln in Q1 2012.
China Digital TV expects smart card shipments for the third quarter of 2012 to be in the range of 3.5 mln to 3.8 mln. Net revenues for the third quarter of 2012 are expected to be in the range of USD 20.6 mln to USD 22.1 mln.
To view the complete release please see here.
Keywords: cable TV guidance profit revenue television China Digital TV Holding DTV conditional access system integration smart card head-end Q2 2012 fiscal report STV
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