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China Digital TV Holding Management Discusses Q4 2010 Results - Q&A Transcript

China Digital TV Holding Co. Ltd. ( STV)

Q4 2010 Earnings Call

March 1, 2011 7:00 PM ET

Executives

Eric Yuan – IR Officer

Dong Li – President and Chief Marketing Officer

Henry Fraser – Brunswick Group

Zhenwen Liang – CFO

Analysts

Philip Wan – Morgan Stanley

Jie Liu – Auriga

Michael Olson – Piper Jaffray

Question-and-Answer Session

Op erator

[Operator Instructions] Our first question comes from the line of Philip Wan of Morgan Stanley. Please proceed.

Philip Wan – Morgan Stanley

Hi, good morning, Mr. Li, Mr. Liang and Eric. Congrats on a very strong quarter. I have three questions, first of all could you please help us to understand the big gap between the guidance and actual smart card shipment in the fourth quarter and also for the first quarter, could you share with us that what percentage of your smart card shipment guidance has been shipped up-to-date? Thank you.

Eric Yuan

Okay. Thank you, Philip. I’ll ask our President Mr. Li to answer your question.

Dong Li

[Interpreted] Okay, Philip, there are two – a couple of reasons to expand the gap between our guidance in the fourth quarter and the fourth quarter of 2010. The main reason is seasonality factor; normally the fourth quarter is better season in the industry. While the fourth quarter is actually the slowest season in the industry because of the Chinese New Year factor and also in March there is a big industry show which also will distract some attention from operators.

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