China Digital TV Q3 Profit, Revenue Drop

(RTTNews) - China Digital TV Holding Company Ltd. (STV) said third-quarter attributable net income declined to $1.5 million or $0.02 per share from $4.75 million or $0.08 per share in the prior year.

Adjusted net income totaled $1.72 million, while it was $5.24 million last year.

Total revenues dropped to $17.17 million from $23.45 million last year. Net revenues were $16.96 million, compared to $23.11 million last year.

The company expects net revenues in the fourth quarter to be in the range of $22.3 million to $24.4 million.

STV closed down 5.4 percent on Tuesday at $3.51.