China Digital TV Holding Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Revenue Guidance for the Third Quarter of 2016
August 16, 2016 at 05:00 pm EDT
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China Digital TV Holding Co., Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. Loss from operations in the second quarter of 2016 was $4.6 million, as compared to loss from operations of $0.8 million in the prior year period. Net loss attributable to holders of ordinary shares in the second quarter of 2016 was $1.6 million or $0.03 per diluted share as compared to a net loss attributable to holders of ordinary shares of $0.7 million or $0.01 per diluted share in the prior year period. Total revenues were $10.5 million against $10.5 million reported last year. Net revenues were $10.4 million against $10.4 million reported last year. Loss before income tax expenses was $3.65 million against Income before income tax expenses of $0.008 million reported last year. Loss from operations was $4.6 million against $0.8 million reported last year. Non-GAAP net income attributable to holders of ordinary shares in the second quarter of 2016 was $2.4 million, as compared to a non-GAAP net loss attributable to holders of ordinary shares of $0.6 million in the prior year period.
For the six months, the company reported net loss attributable to holders of ordinary of $0.5 million or $0.01 per diluted share compared to net loss attributable to holders of ordinary of $0.3 million or $0.005 per diluted share reported in the same period last year. Total revenues were $23.7 million against $24.9 million reported last year. Net revenues were $23.4 million against $24.5 million reported last year. Loss before income tax expenses was $2.7 million against Income before income tax expenses of $0.5 million reported last year. Loss from operations was $1.3 million against income from operations of $1.5 million reported last year.
Net revenues in the third quarter of 2016 are expected to be in the range of $8.5 million to $9.5 million.
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 Second Quarter and Six Months Ended June 30, 2016; Provides Revenue Guidance for the Third Quarter of 2016