China Digital TV Holdings, which is NASDAQ-registered but trades in 'smart card' digital technology in China, has suffered a setback in its Q3 performance. Adjusted Net income tumbled to $1.72 million from $5.24 million in the same period last year.
Overall revenues fell back to $17.7 million (from $23.45 million). The company's share price fell back 5.4 per cent to $3.51. The company shipped about 3.55 million smart cards in Q3 (down from 4.76 million last year).
However, prospects for Q4 are better with anticipated net revenues in the range $22.3 – $24.4 million.
China Digital TV was founded in 2004 and as at March 31st saw its technology installed in some 300 Chinese network operators. On November 7th the company announced that it had won a contract with Venezuela's CANTV which will see 900,000 cards distributed.