(NYSE:STV) Plunges 13% after Reporting Earnings

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China Digital TV Holding Co., Ltd. (NYSE:STV) decreases 13.05% to $6.13 after the company yesterday announced that for the fourth quarter of 2009, it expects net revenues to be in the range of USD12.5 to USD13.6 million. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of USD14.3 million for the same period. The stock hit an intraday high and an intraday low of $6.43 and $6.05 respectively.

China Digital TV Holding Co., Ltd. is a provider of conditional access systems to the digital television market in the People’s Republic of China. The Company’s CA systems, which consist of smart cards, head-end software for television network operators and terminal-end software for set-top box manufacturers, enable digital television network operators in People’s Republic of China to control the distribution of content and value-added services to their subscribers and block unauthorized access to their networks. 

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