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China Digital TV Holdings, the NASDAQ registered but China-focussed, conditional access smart card supplier, says net revenues for Q2 slipped 5.8 per cent (same period last year) to $17.2 million, and a fall of 5.6 per cent when compared with Q1 this year.
China Digital TV shipped approximately 3.55 million smart cards in the second quarter of 2014, compared to 3.58 million in the same period in 2013 and 3.56 million in the first quarter of 2014.
Gross margin in the second quarter of 2014 was 73.3 per cent, compared to 76.7 per cent in the same period in 2013 and 78.6 per cent in Q1/2014.
“We are pleased to report a solid performance in the second quarter, with smart card shipments and net revenue both meeting our guidance,” said Lu Zengxiang, China Digital TV’s acting CEO and CFO. “We continued to see steady demand for smart cards from Jiangsu, Zhejiang, Sichuan, Shandong and Jiangxi, and strong execution in these key regions helped us maintain a 51 per cent share of the Chinese market. Zengxiang said that the regulators’ recent tightening of over-the-top services is expected to create further opportunities for China Digital to expand our coverage of cable users in China.