Tuesday, June 24, 2008

ADRs in Focus: China Digital TV plunges

Shares of China Digital TV Holding Co. plunged on Thursday after posting first-quarter profit that climbed 84 percent on new contracts and better sales of its smart cards.

Late Wednesday, China Digital said its net income rose to $11.4 million, or 19 cents per share, from $6.2 million, or 13 cents per share, in the same quarter last year.

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