China Digital TV Holding Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2016, Provides Earnings Guidance for the Fourth Quarter of 2016
November 15, 2016 at 05:00 pm EST
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China Digital TV Holding Co., Ltd. announced unaudited consolidated earnings results for the third quarter ended September 30, 2016. For the quarter, the company's total revenues were $12,081,000 compared with $10,675,000 a year ago. Net revenues were $11,815,000 compared with $10,547,000 a year ago. The increase in net Revenue was driven by other products and other services, but partially offset by a decrease in smart card revenues. Loss from operations were $698,000 compared with $1,049,000 a year ago. Net loss was $483,000 compared with net loss of $854,000 a year ago. Basic and diluted loss per share was $0.01 compared with loss of $0.01 a year ago.
The company expects smart card shipment volumes in the fourth quarter of 2016 to be in the range of 3.2 million to 3.5 million. Net revenues in the fourth quarter of 2016 are expected to be in the range of $11.0 million to $12.6 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 Third Quarter Ended September 30, 2016, Provides Earnings Guidance for the Fourth Quarter of 2016