China Digital TV Holding Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Impairment Loss of Goodwill, Intangible Assets and Property and Equipment for the Fourth Quarter Ended December 31, 2017
March 27, 2018 at 05:00 pm EDT
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China Digital TV Holding Co., Ltd. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenues of $3,057,000 against $782,000 a year ago. Net revenues were $3,034,000 against $778,000 a year ago. Operating loss was $753,000 against $2,749,000 a year ago. Loss before income tax expenses was $715,000 against $1,793,000 a year ago. Net loss from continuing operations was $767,000 or $0.01 per basic and diluted share against $1,844,000 or $0.02 per basic and diluted share a year ago. Net loss attributable to ordinary shareholders of the company was $740,000 or $0.01 per basic and diluted share against profit of $46,336,000 or $0.77 per basic and diluted share a year ago. Net loss attributable to the company shareholders - Non-GAAP was $655,000 against profit of $46,937,000 a year ago.
For the year, the company reported total revenues of $6,201,000 against $4,240,000 a year ago. Net revenues were $6,160,000 against $4,228,000 a year ago. Operating loss was $5,289,000 against $9,430,000 a year ago. Loss before income taxes was $3,373,000 against $8,142,000 a year ago. Net loss from continuing operations was $3,710,000 or $0.04 per basic and diluted share against $8,256,000 or $0.12 per basic and diluted share a year ago. Net loss attributable to ordinary shareholders of the company was $3,068,000 or $0.05 per basic and diluted share against profit of $45,418,000 or $0.75 per basic and diluted share a year ago.
For the quarter, the company reported impairment loss of goodwill, intangible assets and property and equipment at the amounts of $0.7 million, $0.2 and $0.4 million, respectively, was recorded in the fourth quarter of 2017.
China Digital TV Holding Co Ltd is a holding company mainly engaged in the provision of cloud platforms. Its cloud platforms provide cloud computing technology-based digital video delivery solutions to television and telecommunication network operators. The Company provides cloud gaming, cloud education, cloud virtual reality (VR), operational strategies and customer service systems through its cloud platforms. The Company is also engaged in the provision of products and services related to the VR technology, and technical support and services. The Company mainly conducts its businesses in the domestic market.
China Digital TV Holding Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Impairment Loss of Goodwill, Intangible Assets and Property and Equipment for the Fourth Quarter Ended December 31, 2017