China Digital TV Announces Unaudited Third Quarter 2008 ResultsThursday, November 6th, 2008
China Digital TV shipped approximately 2.21 million smart cards during the third quarter, an increase of 16.9% from the corresponding period in 2007 and a decrease of 17.8% from the second quarter of 2008
BEIJING — China Digital TV Holding Co., Ltd. (NYSE: STV) (“China Digital TV” or the “Company”), the leading provider of conditional access (“CA”) systems to China’s rapidly growing digital television market, today announced its unaudited financial results for the third quarter ended September 30, 2008.
Revenues from smart cards and related products were US$15.1 million in the third quarter of 2008, an increase of 18.1% from the corresponding period of 2007 and a decrease of 16.4% from the second quarter of 2008. Sales of smart cards and related products accounted for 88.9% of total revenues for this quarter, down from 92.7% in the second quarter.
Sales of smart cards and related products in the first 9 months of 2008 were US$49.0 million, representing an increase of 53.6% over the same period in 2007. In the first three quarters of 2008, China Digital TV shipped a total of 7.2 million smart cards, an increase of 52.8% from the same period of 2007.
In the third quarter of 2008, of 184 existing operator customers, 152 bought smart cards from the Company, compared with 142 in the second quarter of 2008. Revenues from the top five customers accounted for 23.8% of total revenues in the third quarter of 2008, compared to 30.9% in the second quarter of 2008.
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