China Digital TV Lifts Q4 Revenue And Smart Card Shipments Guidance

(RTTNews) - China Digital TV Holding Co. Ltd. (STV), a provider of conditional access systems to China's expanding digital television market, announced that it has raised its guidance for revenue and smart card shipments for the fourth quarter ended December 31, 2013.

The company raised its fourth quarter net revenues guidance to a range of $25 million - $26 million, from the previous estimate of $17.6 million - $18.9 million.

The firm now expects fourth quarter smart card shipments to be in the range of 4.8 million and 5 million exceeding the previously announced guidance range of 3.9 million to 4.2 million.

"Taking into account usual seasonal factors ahead of the Chinese New Year, our fourth quarter shipment volumes were better than we expected due to stronger smart card demand largely driven by operators in China's cable TV market," said Jianhua Zhu, China Digital TV's chairman and chief executive officer.