China Digital TV to Announce Third Quarter 2012 Financial Results on November
20, 2012; Announces Impairment Charge for 3DiJoy Investment
BEIJING, Nov. 5, 2012
BEIJING, Nov. 5, 2012 /PRNewswire/ -- China Digital TV Holding Co., Ltd.
(NYSE: STV) ("China Digital TV" or the "Company"), the leading provider of
conditional access ("CA") systems to China's expanding digital television
market, today announced it will report its unaudited financial results for the
third quarter ended September 30, 2012, after the U.S. market closes on
Tuesday, November 20, 2012. China Digital TV's management will host an
earnings conference call at 7:00 p.m. on Tuesday, November 20, 2012, U.S.
Eastern Time (8:00 a.m. on Wednesday, November 21, 2012, Beijing/Hong Kong
China Digital TV also announced that it expects to incur an impairment charge
of US$4.5 million related to its investment in 3DiJoy Corporation ("3DiJoy")
in its unaudited financial results for the third quarter ended September 30,
2012. In May 2010, China Digital TV invested in 3DiJoy, a provider of
motion-sensing video game solutions for cable set top boxes, PCs and other
consumer electronic devices. 3DiJoy has consistently failed to achieve
profitability and has been experiencing financial difficulties since early
2012. Based on a valuation conducted by a third party, China Digital TV
decided to fully accrue a long-term investment impairment charge. This
impairment charge will impact the net income attributable to China Digital TV
in the three months ended September 30, 2012, but, as it is a non-cash
adjustment, it will not negatively impact the Company's normal business
operations, cash position or cash flows from operating activities.
Conference Call Dial-in Information
United States Toll Free: +1-866-519-4004
Hong Kong: +852-2475-0994
China Toll Free: 400-620-8038 and 800-819-0121
Passcode: China Digital TV Earnings Call
A replay of the call will be available for one week between 10:00 p.m. on
November 20, 2012 and 11:59 p.m. on November 27, 2012 U.S. Eastern Time.
Replay Dial-in Information
United States: +1-718-354-1232
Conference ID: 58700122
Additionally, a live and archived webcast of this call will be available on
the Investor Relations section of China Digital TV's corporate website at
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of CA systems to
China's expanding digital television market. CA systems enable television
network operators to manage the delivery of customized content and services to
their subscribers. China Digital TV conducts substantially all of its business
through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate,
Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries
of its affiliate.
For investor and media inquiries, please contact:
China Digital TV
Tel: +86-10-6297-1199 x 9780
In the US:
SOURCE China Digital TV Holding Co., Ltd.
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