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Smart-card and Conditional Access supplier China Digital TV saw revenues fall during its fourth quarter last year, although its full-year numbers were in positive territory. The company, which undertook some major management and ownership changes during last year, reported a significant fall in revenues and profits for its Q4.
China Digital TV’s net revenues for the full year increased by 120.2 per cent to $4.2 million from $1.9 million in the prior year. The increase was primarily due to an increase in revenues from its ‘cloud’ platform operations. Gross profit in 2016 increased by 402 per cent to $2.7 million from $0.5 million in the prior year. The increase in gross margin was primarily due to an increase in the cloud platform operations, which have a comparatively higher margin than the Company’s other continuing operations, such as system integration and system development.
China Digital TV’s net revenues for Q4/2016 decreased by 34.8 per cent to $0.8 million from $1.2 million in the prior year period. The decline in net revenues was primarily due to a fall in revenues from system development in Q4/2016. Gross profit in Q4 was $0.2 million, as compared with $0.5 million in the previous year. Gross margin, which is equal to gross profit divided by net revenues, was 24.4 per cent in Q4/2016, compared to 45 per cent in the prior year period.
As of December 31st 2016, China Digital TV had cash and cash equivalents totaling $124.4 million in place.