Editor ©RapidTVNews | 17-08-2011
Unaudited financial results for the second quarter ended 30 June 2011 released by conditional access (CA) systems provider China Digital TV have revealed huge growth in both products and business.
The CA firm says that it has posted Q2 revenues of $24.7 million, representing a 29.2% year on year increase from the same period in 2010 and a 28% increase from the first quarter of 2011. In the quarter it also shipped approximately 4.64 million smart cards, just more than a million more than in both the same period in 2010 and first quarter of 2011.
Such strength in revenues and shipments drove gross margin in the second quarter to 81.4% according top the released unaudited figures.
"We are pleased to report that China Digital TV has delivered another solid quarter, with strong market demand for our advanced CA products driving revenue growth," said Jianhua Zhu, China Digital TV's chairman and chief executive officer commenting on the released data.
"Cable operators in China remain focused on accelerating the on-going process of consolidation and investing in digitalization projects. In particular, the most significant demand increases came from several provinces, including Jiangxi, Guizhou and Sichuan. We believe China Digital TV’s industry leadership and superior execution have enabled us to deliver faster than market growth.”
The company’s senior management confidently predicted that the high demand would persist through the second half of the year with steady momentum in smart card take-up. It also claimed that a number of “exciting new initiatives” were under development.