China Digital TV Reports Third Quarter 2007 Financial Results

Thursday, November 15th, 2007
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  • Total revenue for the quarter was US$14.4 million, a 37.3% increase from the third quarter of 2006 and a 28.9% increase from the second quarter of 2007.
  • Net income for the quarter was US$8.8 million, a 53.0% increase from the third quarter of 2006 and a 46.9% increase from the second quarter of 2007.
  • Basic earnings per ADS (1 ADS represents 1 ordinary share) were US$0.20, compared to US$0.10 in the third quarter of 2006, and US$0.14 in the second quarter of 2007.
  • China Digital TV shipped 1.9 million smart cards during the quarter.
  • In the third quarter, China Digital TV entered into 18 new contracts to install CA systems, including contracts with provincial-level cable operators in Heilongjiang and Fujian, the municipal cable operator in Heze, Shandong province, and several cable operators in the city of Ningbo.

BEIJING — China Digital TV Holding Co., Ltd. (NYSE: STV) (“China Digital TV”), the leading provider of conditional access (“CA”) systems to China’s rapidly growing digital television market, announced today its unaudited financial results for the three months ended September 30, 2007.

For the third quarter of 2007, China Digital TV reported total revenues of US$14.4 million, a 37.3% increase from US$10.5 million in the same period of 2006, and a 28.9% increase from US$11.2 million in the second quarter of 2007. During the quarter, China Digital TV entered into 18 new contracts to install CA systems.

Revenues from smart cards and related products were US$12.8 million, a 40.1% increase from the same period of 2006 and a 26.6% increase from the second quarter. Smart card and related products sales were 88.7% of the total revenues for the quarter. China Digital TV shipped 1.9 million cards in the third quarter, 2007, a 32.9% increase over the number of cards shipped in the same period of 2006 and a 23.6% increase over the second quarter of 2007.