SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Month of June 2015
Commission File Number 001-33692
China Digital
TV Holding Co., Ltd.
(Translation of registrant’s name into English)
Jingmeng High-Tech Building B, 4th
Floor
No. 5 Shangdi East Road
Haidian District, Beijing 100085
People’s Republic of China
(Address of principal executive offices)
(Indicate by check
mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F x Form 40-F ¨
(Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___)
(Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___)
(Indicate by check mark whether by furnishing
the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes ¨ No x
(If "Yes" is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b):82-
.)
EXHIBITS
| Exhibit Number |
Page |
| 99.1 |
Press release, dated June 8, 2015 |
4 |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
| |
CHINA DIGITAL TV HOLDING CO., LTD. |
| |
|
| |
|
| Date: June 8, 2015 |
By: /s/ Zengxiang LU |
| |
Name: Zengxiang LU |
| |
Title: Chief Executive Officer |
Exhibit 99.1
China Digital TV Announces
Unaudited First Quarter 2015 Results
BEIJING, China,
June 8, 2015 — China Digital TV Holding Co., Ltd. (NYSE: STV) (“China Digital TV” or the “Company”),
the leading provider of cloud-based application platforms and conditional access ("CA") systems which enable China's
digital cable television market to offer and secure diversified content services, today announced
its unaudited financial results for the first quarter ended March 31, 2015.
“During the first
quarter, we made further progress in our evolution from being China's leading access technology provider to the cable TV market,
to being a first-mover as a diversified digital TV service provider to cable operators, increasing the prevalence of cable programming
outside the home and mobile applications inside the home,” said Dr. Zengxiang Lu, China Digital TV's acting chief executive
officer. “As was expected, revenue came in soft due to the ongoing market decline of the conditional access business and
negative impact of seasonality in the first quarter. Despite these headwinds, we maintain our market dominance in this segment
with a market share of over 50% and key relationships with nearly all of China’s cable operators.”
Dr. Lu continued, “We
believe that our leading position in this mature sector will pave the way for future success in the emerging frontier of providing
cloud-based content programming for cable operators, helping them realize new streams of revenue. We continued to expand our cloud
cooperation with Beijing Gehua CATV Network to 1,400 streams, and are happy to report that we currently have 300,000 registered
users for cloud services under this partnership and expect to double that figure by year-end. Furthermore, we inked an agreement
with the city of Zibo in Shandong province to deploy our cloud platform, and continue to explore other municipal and provincial
partnerships to expand our cloud services into new regions.”
Ms. Yue Qian, China Digital
TV's acting chief financial officer, commented, “As our business continues to transform, it will take several quarters before
our investment in these new frontiers achieves significant returns. Understandably revenues were soft due to the market maturity
in the traditional segment and the still nascent state of our cloud platform segment. However, this short-term volatility should
not dilute the key message that in front of us lays a tremendous market opportunity and we are uniquely well-positioned to leverage
our existing capabilities and platform to take advantage of these new emerging growth avenues.”
First Quarter 2015
Results1
In the first quarter of
2015, China Digital TV’s smart card shipments decreased by 17.1% to approximately 2.95 million from 3.56 million in the prior
year period.
In the first quarter of
2015, China Digital TV’s net revenues decreased by 22.7% to US$14.0 million from US$18.2 million in the prior year period.
The decrease was primarily due to decreases in revenues from the sales of smart cards and other products caused by the general
market decline of the mature CA business.
In the first quarter of
2015, revenues from the Company’s top five customers accounted for 28.4% of total revenues, as compared to 25.0% in the prior
year period.
Revenue Breakdown
______________________________
1
Unless otherwise stated, all financial statement measures stated in this press release
are based on generally accepted accounting principles in the United States (“U.S. GAAP”).
| | |
For the three months ended | |
| | |
March 31, | | |
December 31, | | |
March 31, | |
| | |
2015 | | |
2014 | | |
2014 | |
| | |
(in U.S. dollars, in thousands) | |
| Products: | |
| | | |
| | | |
| | |
| Smart cards | |
$ | 12,839 | | |
$ | 22,145 | | |
$ | 15,591 | |
| Other products | |
| 376 | | |
| 2,354 | | |
| 1,556 | |
| Subtotal | |
| 13,215 | | |
| 24,499 | | |
| 17,147 | |
| Services: | |
| | | |
| | | |
| | |
| Head-end system integration | |
| 596 | | |
| 3,210 | | |
| 413 | |
| Head-end system development | |
| 318 | | |
| 737 | | |
| 271 | |
| Licensing income | |
| 100 | | |
| 1,155 | | |
| 311 | |
| Royalty income | |
| 123 | | |
| 152 | | |
| 303 | |
| Other services | |
| 6 | | |
| 11 | | |
| 127 | |
| Subtotal | |
| 1,143 | | |
| 5,265 | | |
| 1,425 | |
| Total revenues | |
$ | 14,358 | | |
$ | 29,764 | | |
$ | 18,572 | |
Revenues from smart
cards decreased by 17.7% to US$12.8 million in the first quarter of 2015 from US$15.6 million in the prior year period. The
decrease was mainly due to a decrease in shipment volumes of smart cards. Sales of smart cards accounted for 89.4% of total revenues
in the first quarter of 2015, as compared to 83.9% in the prior year period.
Revenues from other
products decreased by 75.8% to US$0.4 million in the first quarter of 2015 from US$1.6 million in the prior year period. The
decrease was mainly attributable to lower sales of surface mounted chips. Sales of other products accounted for 2.6% of total revenues
in the first quarter of 2015, as compared to 8.4% in the prior year period.
Revenues from services
decreased by 19.8% to US$1.1 million in the first quarter of 2015 from US$1.4 million in the prior year period. The decrease was
primarily due to the decline in licensing and royalty income, which was partially offset by an increase in head-end system integration.
Revenues from services accounted for 8.0% of total revenues in the first quarter of 2015, as compared to 7.7% in the prior year
period.
Cost of revenues from
smart cards and other products decreased by 22.3% to US$2.2 million in the first quarter of 2015 from US$2.8 million in the
prior year period. The decrease was mainly due to a decline in cost of revenues from smart cards resulting from decreased shipment
volumes of smart cards. Cost of revenues from smart cards and other products accounted for 65.0% and 3.4% of total cost of revenues,
as compared to 66.0% and 6.6% in the prior year period.
Cost of revenues from
services decreased by 5.1% to US$1.0 million in the first quarter of 2015 from US$1.1 million in the prior year period. The
decrease was mainly due to a decline in revenues from services. Cost of revenues from services accounted for 31.5% of total cost
of revenues, as compared to 27.4% in the prior year period.
Gross profit
in the first quarter of 2015 decreased by 24.1% to US$10.8 million from US$14.3 million in the prior year period. Gross margin,
which is equal to gross profit divided by net revenues, was 77.1% in the first quarter of 2015, as
compared to 78.6% in the prior year period. The decline in gross margin was primarily due to a decrease in revenues from other
products, such as surface mounted chips, which carry a relatively high gross margin.
In the first quarter of
2015, the average selling price of smart cards decreased by 1.1%, as compared to the prior year period. In addition, the unit cost
of smart cards decreased by 2.0%, as compared to the prior year period.
Operating expenses
in the first quarter of 2015 decreased by 8.4% to US$9.6 million from US$10.5 million in the prior year period.
| ● | Research and development expenses in the first quarter of
2015 decreased by 3.8% to US$3.9 million from US$4.0 million in the prior year period. The decrease was primarily due to decreases
in personnel related expenses resulting from lower headcount. |
| ● | Selling and marketing expenses in the first quarter of 2015
decreased by 13.9% to US$3.5 million from US$4.1 million in the prior year period. The decline was mainly due to a decrease in
marketing activities relating to the Company’s CA business. |
| ● | General and administrative expenses in the first quarter
of 2015 decreased by 7.0% to US$2.2 million from US$2.4 million in the prior year period. The decrease was mainly due to decreased
share-based compensation expenses. |
Income
from operations in the first quarter of 2015 decreased by 67.7% to US$1.2 million from US$3.8 million in the prior year period.
Operating margin, which is equal to operating income divided by net revenues, in the first
quarter of 2015 was 8.7%, as compared to 20.8% in the prior year period.
Income tax expenses
in the first quarter of 2015 increased by 56.7% to US$1.4 million from US$0.9 million in income tax expense in the prior year
period. The increase was mainly due to the increase in accrued income tax expenses resulting from Beijing Super TV Co., Ltd., (“Super
TV”), one of the Company's PRC operating subsidiaries, being taxed at a higher tax rate of 15% in the first quarter of 2015.
Previously, Super TV was designated as a "key software enterprise" for the tax years of 2013 and 2014 by the relevant
PRC government authorities and, as a result, was entitled to a preferential income tax rate of 10% in each of those years.
Net income
attributable to holders of ordinary shares in the first quarter of 2015 decreased by 91.1% to US$0.4 million from US$4.1 million
in the prior year period. Net margin, which is equal to net income divided by net revenues,
in the first quarter of 2015 was 2.6%, as compared to 22.3% in the prior year period.
Non-GAAP net income attributable to holders
of ordinary shares2 in the first quarter
of 2015 decreased by 89.7% to US$0.4 million from US$4.4 million in the prior year period3.
Balance Sheet and Cash
Flow
As of March 31, 2015, China
Digital TV had cash and cash equivalents and restricted cash totaling US$61.3 million. In the first quarter of 2015, cash flow
used in operations was approximately US$3.5 million.
Business Outlook
Based on information available
as of June 8, 2015, China Digital TV expects smart card shipment volumes in the second quarter of 2015 to be in the range of 2.1
million to 2.4 million. Net revenues in the second quarter of 2015 are expected to be in the range of US$8.77 million to US$9.93
million.
___________________________
2
Non-GAAP net income attributable to holders of ordinary shares is defined as net income excluding certain non-cash expenses,
such as share-based compensation expenses, amortization of acquired intangible assets from business acquisitions and equity
method investments.
3
For more information on these non-GAAP financial measures, please see the tables captioned “Reconciliations of non-GAAP measures”
set forth at the end of this release.
Conference Call Information
The Company
will hold an earnings conference call at 8:00 p.m. on Monday, June 8, 2015, U.S. Eastern Time (8:00 a.m. on Tuesday, June
9, 2015, Beijing/Hong Kong Time).
Conference Call Dial-in
Information
| United States Toll Free: |
|
+ 1-888-346-8982 |
|
| International: |
|
+ 1-412-902-4272 |
|
| Hong Kong: |
|
800-905945 |
|
| China Toll Free: |
|
4001-201203 |
|
Passcode: China Digital
TV Holding Co. Ltd. call.
Please dial-in 10 minutes
before the call is scheduled to begin and provide the passcode to join the call.
A replay of the call will
be available for one week between 10:00 p.m. on June 8, 2015 and 10:00 a.m. on June 15, 2015 U.S. Eastern Time.
Replay Information
| United States: |
|
+1-877-344-7529 |
|
| International: |
|
+ 1-412-317-0088 |
|
| |
|
|
|
| Passcode: |
|
10066779 |
|
In addition,
a live and archived webcast of this conference call will be accessible through the Investor Relations section of China Digital
TV’s website at http://ir.chinadtv.cn.
Safe Harbor Statement
This announcement contains
forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe
harbor” provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements
can be identified by terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “may,” “should”
and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook for the
second quarter of 2015 and comments by management in this announcement about trends in the CA systems, digital television, cable
television and related industries in the PRC and China Digital TV’s strategic and operational plans and future market positions.
China Digital TV may also make forward-looking statements in its periodic reports filed with the Securities and Exchange Commission,
in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not historical facts, including statements about China Digital TV’s
beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties.
A number of factors could cause actual results to differ materially from projections contained or implied in any forward-looking
statement, including but not limited to the following: competition in the CA systems, digital television, cable television and
related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes
in technology, the progress of the television digitalization in the PRC, the structure of the cable television industry or television
viewer preferences, changes in PRC laws, regulations or policies with respect to the CA systems, digital television, cable television
and related industries, including the extent of non-PRC companies’ participation in such industries, and changes in political,
economic, legal and social conditions in the PRC, including the government’s policies with respect to economic growth, foreign
exchange and foreign investment.
Further information regarding
these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the Securities
and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply
only as of the date of this press release.
About China Digital
TV
Founded in 2004, China
Digital TV enables television network operators to manage, extend and diversify content services across households and public areas
in China. China Digital TV is the leading provider of cloud-based application platforms and network broadcasting platform ("NBP")
services to Chinese cable operators, helping them to effectively bring mobile gaming apps and other entertainment options to household
television sets, and extend cable programming outside the home to any mobile device. China Digital TV is also the leading provider
of Conditional Access ("CA") systems in China's digital television market. CA systems enable television network operators
to secure the delivery of content to their subscribers. The Company has existing cooperation with nearly all of China's cable television
operators.
For more information please visit the Investor
Relations section of China Digital TV's website at http://ir.chinadtv.cn.
For investor and media
inquiries, please contact:
China Digital TV Holding
Co., Ltd.
Nan Hao
Investor Relations Manager
Tel: +86-10-6297-1199
x 9780
Email: ir@chinadtv.cn
ICR,
Inc.
Charles Eveslage
Tel: +1 (646) 328-1950
Email: stv@icrinc.com
China Digital TV Holding Co., Ltd.
Unaudited Condensed Consolidated Statements of Comprehensive Income
(in thousands of U.S. dollars, except share and per share data )
| |
|
For the three months ended |
|
| |
|
March 31, |
|
|
December 31, |
|
|
March 31, |
|
| |
|
2015 |
|
|
2014 |
|
|
|
2014 |
|
| |
|
|
|
|
|
|
|
|
|
| Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
| Products |
|
$ |
13,215 |
|
|
$ |
24,499 |
|
|
$ |
17,147 |
|
| Services |
|
|
1,143 |
|
|
|
5,265 |
|
|
|
1,425 |
|
| Total revenues |
|
|
14,358 |
|
|
|
29,764 |
|
|
|
18,572 |
|
| Business and sales related taxes |
|
|
(309 |
) |
|
|
(537 |
) |
|
|
(389 |
) |
| Net revenues |
|
|
14,049 |
|
|
|
29,227 |
|
|
|
18,183 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
| Products |
|
|
(2,198 |
) |
|
|
(4,083 |
) |
|
|
(2,830 |
) |
| Services |
|
|
(1,013 |
) |
|
|
(1,507 |
) |
|
|
(1,067 |
) |
| Total cost of revenues |
|
|
(3,211 |
) |
|
|
(5,590 |
) |
|
|
(3,897 |
) |
| Gross profit |
|
|
10,838 |
|
|
|
23,637 |
|
|
|
14,286 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Research and development expenses |
|
|
(3,893 |
) |
|
|
(4,430 |
) |
|
|
(4,048 |
) |
| Selling and marketing expenses |
|
|
(3,506 |
) |
|
|
(3,188 |
) |
|
|
(4,071 |
) |
| General and administrative expenses |
|
|
(2,218 |
) |
|
|
(4,169 |
) |
|
|
(2,385 |
) |
| Total operating expenses |
|
|
(9,617 |
) |
|
|
(11,787 |
) |
|
|
(10,504 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Income from operations |
|
|
1,221 |
|
|
|
11,850 |
|
|
|
3,782 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income |
|
|
251 |
|
|
|
151 |
|
|
|
706 |
|
| Other income |
|
|
64 |
|
|
|
1,930 |
|
|
|
268 |
|
| Income before income taxes |
|
|
1,536 |
|
|
|
13,931 |
|
|
|
4,756 |
|
| Income tax expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Income tax-current |
|
|
(1,049 |
) |
|
|
(1,545 |
) |
|
|
(590 |
) |
| Income tax-deferred |
|
|
(393 |
) |
|
|
(2,054 |
) |
|
|
(330 |
) |
| Net income before net income from equity method investments |
|
|
94 |
|
|
|
10,332 |
|
|
|
3,836 |
|
| Net loss from equity method investments, net of income taxes |
|
|
(18 |
) |
|
|
(70 |
) |
|
|
(22 |
) |
| Net income |
|
|
76 |
|
|
|
10,262 |
|
|
|
3,814 |
|
| Net loss attributable to noncontrolling interest |
|
|
287 |
|
|
|
675 |
|
|
|
242 |
|
| Net income attributable to holders of ordinary shares |
|
$ |
363 |
|
|
$ |
10,937 |
|
|
$ |
4,056 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income per share attributable to holders of ordinary shares |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.01 |
|
|
$ |
0.18 |
|
|
$ |
0.07 |
|
| Diluted |
|
$ |
0.01 |
|
|
$ |
0.18 |
|
|
$ |
0.07 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
76 |
|
|
$ |
10,262 |
|
|
$ |
3,814 |
|
Other comprehensive (loss)/income, net of tax
Foreign currency translation adjustment |
|
|
258 |
|
|
|
(1,050 |
) |
|
|
(3,053 |
) |
| Comprehensive income |
|
|
334 |
|
|
|
9,212 |
|
|
|
761 |
|
| Comprehensive loss attributable to noncontrolling interest |
|
|
289 |
|
|
|
684 |
|
|
|
263 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Comprehensive income attributable to holders of ordinary shares |
|
$ |
623 |
|
|
$ |
9,896 |
|
|
$ |
1,024 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares used in calculating net income per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
59,724,925 |
|
|
|
59,592,861 |
|
|
|
59,178,936 |
|
| Diluted |
|
|
62,111,962 |
|
|
|
62,221,519 |
|
|
|
60,390,688 |
|
China Digital TV Holding Co., Ltd.
Unaudited Condensed Consolidated Balance Sheets
(in thousands of U.S. dollars)
| |
March 31, | | |
December 31, | |
| ASSETS | |
2015 | | |
2014 | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 61,198 | | |
$ | 62,042 | |
| Restricted cash | |
| 67 | | |
| 78 | |
| Notes receivable | |
| 4,598 | | |
| 5,417 | |
| Accounts receivable, net | |
| 47,660 | | |
| 47,977 | |
| Inventories, net | |
| 5,240 | | |
| 4,966 | |
| Prepaid expenses and other current assets | |
| 5,384 | | |
| 8,964 | |
| Deferred costs-current | |
| 812 | | |
| 710 | |
| Deferred tax assets - current | |
| 2,676 | | |
| 2,387 | |
| Total current assets | |
| 127,635 | | |
| 132,541 | |
| Long-term receivable | |
| 45 | | |
| 45 | |
| Property and equipment, net | |
| 757 | | |
| 880 | |
| Intangible assets, net | |
| 421 | | |
| 440 | |
| Goodwill | |
| 1,403 | | |
| 1,402 | |
| Equity method investments | |
| 2,486 | | |
| 2,502 | |
| Deferred costs - non-current | |
| 636 | | |
| 516 | |
| Deferred tax assets - non-current | |
| 786 | | |
| 785 | |
| Total assets | |
| 134,169 | | |
| 139,111 | |
| | |
| | | |
| | |
| LIABILITIES AND EQUITY | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | |
| Accounts payable | |
| 1,542 | | |
| 2,298 | |
| Notes payable | |
| 32 | | |
| 86 | |
| Accrued expenses and other current liabilities | |
| 13,975 | | |
| 17,652 | |
| Deferred revenue - current | |
| 5,112 | | |
| 4,572 | |
| Income tax payable | |
| 1,041 | | |
| 3,465 | |
| Deferred tax liabilities - current | |
| 4,411 | | |
| 3,727 | |
| Government subsidies - current | |
| 168 | | |
| 167 | |
| Total current liabilities | |
| 26,281 | | |
| 31,967 | |
| Deferred revenue - non-current | |
| 911 | | |
| 617 | |
| Government subsidies - non-current | |
| 4,410 | | |
| 4,390 | |
| Deferred income taxes-non-current | |
| 105 | | |
| 110 | |
| Total liabilities | |
| 31,707 | | |
| 37,084 | |
| | |
| | | |
| | |
| EQUITY | |
| | | |
| | |
China
Digital TV Holding Co., Ltd. shareholders’ equity: | |
| | | |
| | |
| Ordinary shares | |
| 30 | | |
| 30 | |
| Additional paid-in capital | |
| 35,739 | | |
| 35,639 | |
| Statutory reserve | |
| 17,977 | | |
| 17,977 | |
| Retained earnings | |
| 22,670 | | |
| 22,307 | |
| Accumulated other comprehensive income | |
| 25,769 | | |
| 25,509 | |
Total
China Digital TV Holding Co., Ltd. shareholders’ equity | |
| 102,185 | | |
| 101,462 | |
| Noncontrolling interest | |
| 277 | | |
| 565 | |
| Total equity | |
| 102,462 | | |
| 102,027 | |
| TOTAL LIABILITIES AND EQUITY | |
$ | 134,169 | | |
$ | 139,111 | |
Reconciliation of Non-GAAP Measures
Non-GAAP net income attributable
to holders of ordinary shares excludes certain non-cash expenses, such as share-based compensation expenses, amortization of intangible
assets acquired from business acquisitions and equity method investments. The Company believes that the non-GAAP net income provides
meaningful supplemental information regarding the Company’s performance by excluding certain non-cash expenses that may not
be indicative of its operating performance from a cash flow perspective. The Company believes that both management and investors
benefit from referring to this additional information in assessing the Company’s performance and when planning and forecasting
future periods.
| | |
For the three months ended | |
| | |
March 31, | | |
December 31 | | |
March 31, | |
| |
2015 | | |
2014 | | |
2014 | |
| | |
(in U.S. dollars, in thousands) | |
| Net income attributable to China Digital TV Holding Co., Ltd shareholders - GAAP | |
$ | 363 | | |
$ | 10,937 | | |
$ | 4,056 | |
| Share-based compensation expenses | |
| 34 | | |
| 78 | | |
| 278 | |
| Amortization of intangible assets from business acquisitions and equity method investments | |
| 52 | | |
| 52 | | |
| 43 | |
| Net income attributable to China Digital TV Holding Co., Ltd shareholders - Non-GAAP | |
$ | 449 | | |
$ | 11,067 | | |
$ | 4,377 | |