China Digital TV Holding Co., Ltd. (NYSE: STV) reported its net revenues in the second quarter of 2013 were USD18.2m, representing a 22.5% decrease from the same period in 2012 and an 8.6% decrease from the first quarter of 2013.
China Digital TV shipped approximately 3.58m smart cards in the second quarter of 2013, compared to 3.74m in the same period in 2012 and 3.71m in the first quarter of 2013.
Gross margin in the second quarter of 2013 was 76.7%, compared to 76.4% in the same period in 2012 and 73.4% in the first quarter of 2013.
Diluted earnings per American depositary share (one ADS representing one ordinary share), or ADS, in the second quarter of 2013 were USD0.03, compared to USD0.12 in the same period in 2012.
“Despite a range of challenges, including those posed by competition from IPTV and over-the-top (OTT) services, and the stronger negotiating position cable operators have for pricing following provincial network consolidation completion, China Digital TV was able to meet our revenue guidance for the second quarter of 2013,” said Jianhua Zhu, China Digital TV´s chairman and chief executive officer. “We saw steady demand and performance during the second quarter in several key provinces, including Zhejiang, Jiangsu, Guangdong and Shandong. We are beginning to see conversion to high definition drive demand for our smart cards and we expect this trend to continue during the second half of the year.”
China Digital TV Holding Co., Ltd., through its subsidiaries, provides conditional access systems to the digital television market in the People´s Republic of China. The company was founded in 2004 and is headquartered in Beijing, the People´s Republic of China. The company´s website is at http://www.chinadtv.cn.