Boston, MA 05/28/2013 (wallstreetpr) – The prices of China Digital TV Holding Company Ltd. ADR (NYSE:STV) had declined by 8.70 percent to close at $1.68 per American Depository Receipt of the company for the end of last trading session. The ADRs of the company had been trading in the range of $1.65 to $1.80 during the day. China Digital TV Holding Company Ltd. ADR (NYSE:STV) is involved in providing conditional access systems to the digital television market of People’s Republic of China.
Results of first quarter, 2013
The company had recently released its unaudited financial results for the first quarter of 2013, in which China Digital TV Holding Company Ltd. ADR (NYSE:STV) had registered decline of 13.9 percent from the previous quarter to reach $19.9 million. The earnings per one diluted American Depository Share was observed to be $0.13 compared to $0.12 gain per ADS for the same quarter of previous year, 2012.
Though the normal seasonal slowness had set in, China Digital TV Holding Company Ltd. ADR (NYSE:STV) had managed to report more than expected revenue and earnings to its shareholders. The company presently holds 57 percent market share in the conditional access systems market of People’s Republic of China. Through the Conditional Access systems, China Digital TV Holding Company Ltd. ADR (NYSE:STV) provides smart cards, head-end software for television network operators and terminal end software for set top box manufacturers.
China Digital TV Holding Company Ltd. ADR (NYSE:STV) presently holds 58.98 million American Depository Shares outstanding and the institutional ownership in the company is 4 percent of its holdings.
