Actions Semiconductor Co (NASDAQ:ACTS)

GeoProfile
Overview
GeoResearch
Message Board
Alerts Log
GeoWire Log
Third party data
Quote
Level II
Historical Prices
Options
Profile
Financials
Charts
News
Filings
Insiders

Wednesday, May 9, 2012

Comments & Business Outlook

Financial results for the first quarter ended March 31, 2012.

All financial results are reported on a U.S. GAAP basis.

Revenue for the first quarter of 2012 was $10.7 million, as compared to revenue of $12.3 million for the fourth quarter of 2011, and $9.4 million for the first quarter of 2011.

Net loss attributable to Actions Semiconductor's shareholders for the first quarter of 2012 was $0.65 million or $0.01 per ADS. This compares to net loss attributable to Actions Semiconductor's shareholders of $0.11 million or $0.00 per ADS, for the fourth quarter of 2011, and net income attributable to Actions Semiconductor's shareholders of $5 thousand or $0.00 per ADS, for the first quarter of 2011.

Actions Semiconductor reported gross margin of 34.9% for the first quarter of 2012, compared to gross margin of 37.6% for the fourth quarter of 2011, and 39.1% for the first quarter of 2011. The Company ended the first quarter with $33.8 million in cash and cash equivalents. Trading securities, and marketable securities, current and non-current, were $187.8 million at the end of the first quarter.

Since the share repurchase program commenced in 2007, the Company has invested approximately $42.5 million in repurchasing its shares. As of March 31, 2012, approximately 18.3 million American Depositary Shares (ADSs) were repurchased.

"We were pleased to deliver better than expected revenue for the first quarter despite the typical seasonality and fewer working days in the quarter," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "While we saw our product mix shift to a higher percentage of revenue from our more value-oriented solutions such as our automotive products, we maintained our leading market share position in higher end HD products, mainstream portable video and portable audio products."

"We are enthusiastic about our recently launched ATM701x product family targeting the tablet market. The product has been well received to date. We commenced volume shipments in May with several customers and expect to begin seeing a contribution from this new product in the second half of 2012," concluded Dr. Zhou.

Business Outlook

The following statements are based upon management's current expectations. These statements are forward-looking, and actual results may differ materially. The Company undertakes no obligation to update these statements.

For the second quarter of fiscal year 2012 ending June 30, 2012, Actions Semiconductor estimates revenue in the range of $12 to $13 million, gross margin of approximately 36%.

Permalink

Post a comment

Friday, January 20, 2012

Comments & Business Outlook

Fourth Quarter 2011 Results

Revenue for the fourth quarter of 2011 was $12.3 million, as compared to revenue of $15.3 million for the third quarter of 2011, and $10.7 million for the fourth quarter of 2010
Net loss attributable to Actions Semiconductor's shareholders for the fourth quarter of 2011 was $0.11 million or $0.00 per ADS. This compares to net income attributable to Actions Semiconductor's shareholders of $2.6 million or $0.04 per ADS, for the third quarter of 2011, and net loss attributable to Actions Semiconductor's shareholders of $0.15 million or $0.00 per ADS, for the fourth quarter of 2010.

"Our revenue for the fourth quarter was in line with expectations and reflects the current demand environment in our end markets," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "We were pleased to see an increase in shipments of our higher end solutions including our high definition (HD) products.

"In 2011, we made progress on a number of financial metrics, growing revenues by 26% and improving profitability. We maintained our strong leadership position in mainstream portable video and portable audio products, such as automotive/boom box products, while gaining traction in new high end market categories, such as gaming and HD products. Importantly, we believe we have developed a solid platform for continued growth in targeting high end applications.

"As we enter 2012, we expect to maintain a leading position in our established end markets with our current audio and video product portfolio. At the same time, we will focus on advancing our product mix to include even more high end, network enabled devices," concluded Dr. Zhou.

Business Outlook

For the first quarter of fiscal year 2012 ending March 31, 2012, Actions Semiconductor estimates revenue in the range of $9 to $10 million, gross margin of approximately 38%.

Permalink

Post a comment

Wednesday, November 9, 2011

Comments & Business Outlook

Third Quarter 2011 Results

Revenue for the third quarter of 2011 increased 46% to $15.3 million, as compared to revenue of $10.5 million for the second quarter of 2011, and 65% from the third quarter of 2010 revenue of $9.3 million.
Net income attributable to Actions Semiconductor's shareholders for the third quarter of 2011 was $2.6 million or $0.04 per ADS. This compares to net income attributable to Actions Semiconductor's shareholders of $0.5 million or $0.007 per ADS, for the second quarter of 2011, and net income attributable to Actions Semiconductor's shareholders of $1.9 million or $0.03 per ADS, for the third quarter of 2010.
illion

or $0.03 per ADS, for the third quarter of 2010.

For the fourth quarter of fiscal year 2011 ending December 31, 2011, Actions Semiconductor estimates revenue in the range of $12 to $13 million, gross margin of approximately 40% and operating expenses higher on a sequential basis.

Permalink

Post a comment

Wednesday, September 28, 2011

Comments & Business Outlook

Third Quarter 2011 Update

For the third quarter of 2011, Actions expects to report revenue in the range of $15.0 million to $15.5 million and gross margin of approximately 40%. The company's previous guidance was for the third quarter revenue to be in the range of $12.0 to $13.0 million and gross margin of approximately 40%.

"During the third quarter, we experienced stronger than expected demand for our products across a number of end markets, with particular strength in the automotive and boombox and high definition segments," said Mr. Niccolo Chen, CEO of Actions Semiconductor. "Within our high definition segment, shipments of our Series 27 product line, which addresses some of the most advanced segments of the portable video device market, increased during the quarter following a number of design wins that were secured in the second quarter. We are pleased to see momentum going into the seasonally strong second half of the year."

Permalink

Post a comment

Wednesday, August 10, 2011

Comments & Business Outlook

Second Quarter 2011 Results

Revenue for the second quarter of 2011 was $10.5 million, as compared to revenue of $9.4 million for the first quarter of 2011, and $9.7 million for the second quarter of 2010.

Net income attributable to Actions Semiconductor's shareholders for the second quarter of 2011 was $0.5 million or $0.007 per ADS. This compares to net income attributable to Actions Semiconductor's shareholders of $5,000 or $0.00007 per ADS, for the first quarter of 2011, and a net loss attributable to Actions Semiconductor's shareholders of $0.4 million or $0.006 per ADS, for the second quarter of 2010.

"Our sales were in line with expectations for the second quarter," stated Mr. Niccolo Chen, CEO of Actions Semiconductor. "Demand in our fast growing, automotive/boom box segment increased in what is typically a seasonally slower quarter. We continued to enjoy leading market share in key business segments such as small color display MP3, QVGA MP4, and D1 PMP with gaming functions. In the high end market segments, our Series 27 and 28 high definition products secured more than 10 design wins in the second quarter, and we saw continued interest from brand name customers in China. Our newly launched Series 70 provides a superior performance to cost ratio for Android based smart handheld applications. The Android based MID is in pilot production, and has already teamed up with one of China's brand name customers.

"As we head into the second half of 2011, we remain encouraged by the traction and momentum we have gained with our new products and believe we are positioned for growth," concluded Mr. Chen.

Business Outlook

For the third quarter of fiscal year 2011 ending September 30, 2011, Actions Semiconductor estimates revenue in the range of $12.0 to $13.0 million, gross margin will be approximately 40% and operating expenses higher on a sequential basis.

Permalink

Post a comment

Tuesday, August 9, 2011

CFO Trail

ZHUHAI, China, August 10, 2011 /PRNewswire-Asia/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today announced that Mr. Nigel Liu has been promoted to Chief Financial Officer, effective September 1, 2011. Mr. Liu will replace Ms. Patricia Chou, who has resigned as Chief Financial Officer, effective August 31, 2011 to pursue another career opportunity. Ms. Chou will remain an advisor to the company following her departure. Mr. Liu currently serves as Internal Audit Director and Secretary to the Board of Directors of Actions Semiconductor.

Mr. Liu has over 13 years of accounting and finance experience and has been with Actions Semiconductor since 2007. Previously, he spent seven years in multiple management positions, most recently as Senior Manager (Leader of the Process Assurance and Improvement Solution), at PricewaterhouseCoopers in Taipei. Mr. Liu graduated with a Master of Business Administration from National Taiwan University. Mr. Liu holds a bachelor's degree in Accounting from Fu-Jin Catholic University in Taiwan. He is a Certified Public Accountant (CPA) and a Qualified Internal Auditor (QIA) of Taiwan, and a Certified Internal Auditor (CIA).

"We wish to thank Patricia for her contributions during her nearly five years at Actions Semiconductor. As CFO she built a strong finance team and also implemented a number of industry best-practices in financial reporting and corporate governance. Additionally, Patricia managed the company's cash prudently and improved its yield significantly. We wish her the very best in her new endeavors," stated Niccolo Chen, CEO of Actions Semiconductor.

"I am confident that Nigel, with his tenure with Actions Semiconductor, experience, and understanding of our business, will ensure a smooth transition. He brings valuable compliance and audit experience. Nigel will continue to maintain the company's commitment to the highest levels of transparency and corporate governance," concluded Mr. Chen.

Permalink

Post a comment

Friday, July 29, 2011

Comments & Business Outlook

ZHUHAI, China, July 29, 2011 /PRNewswire-Asia/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today announced the introduction of its new Series 70 product family to address the fast growing Android based smart handheld device market (e.g. mobile internet device (MID) and intelligent portable media player (iPMP)). Following a successful sampling program, the new Series 70 product family has been adopted by top tier Chinese brand name customers, with volume production scheduled to begin in August.

With this latest product introduction, Actions is bringing a compelling product offering to the internet-accessible smart handheld device (such as MID and iPMP) market. With the 720P (1280*720 pixel) video engine, built-in HDMI Transmitter (HDMI Tx) and Android 2.2 (Froyo) support, Series 70 allows the user to enjoy a variety of high definition content on a portable device or through television. The support of embedded WiFi or external 3G connectivity and Android Froyo operating system, provides users mobile internet capabilities such as internet browsing, streaming video and instant messenger (IM) on the go. The abundant Android application available today also offers rich sources to extend its applications such as game, eReader, and streaming entertainment. The first two members of the Series 70 family, available now for market, are ATM7001c focused on compact design to support touch panels of 4.3 inches or below, and ATM7001 on five to seven inch LCD touch panels. Series 70 enables a superior performance to cost ratio for Android based smart handheld applications.

"As always, our goal is to create a powerful platform with differentiated features and cost-efficient total solution," stated Mr. Niccolo Chen, CEO of Actions Semiconductor. "With the Android 2.2 support, our customers can easily turn the Series 70 platform to a PMP, Game console, eReader or MID. In addition to the embedded power management unit (PMU) and HDMI Tx, the Series 70 product family also supports DDR2 memory and the latest TLC NAND Flash under 40-bit ECC architecture to achieve the best cost structure at the system level. With its competitive advantages, Series 70 has captured interests from both China-based and international customers."

Permalink

Post a comment

Wednesday, May 11, 2011

Comments & Business Outlook

ZHUHAI, China, May 10, 2011 /PRNewswire-Asia/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today reported its financial results for the first quarter ended March 31, 2011.

All financial results are reported on a U.S. GAAP basis.

Revenue for the first quarter of 2011 was $9.4 million, as compared to revenue of $10.7 million for the fourth quarter of 2010, and $7.9 million for the first quarter of 2010.
Net income attributable to Actions Semiconductor's shareholders for the first quarter of 2011 was $5,000 or $0.00 per ADS. This compares to a net loss attributable to Actions Semiconductor's shareholders of $152,000 or $0.00 per ADS, for the fourth quarter of 2010, and a net loss attributable to Actions Semiconductor's shareholders of $874,000 or $0.01 per ADS, for the first quarter of 2010.
Actions Semiconductor reported gross margin of 39.1% for the first quarter of 2011, as compared to gross margin of 37.1% for the fourth quarter of 2010, and 39.6% for the first quarter of 2010. The Company ended the first quarter of 2011 with $111.9 million in cash and cash equivalents. Trading securities and marketable securities, current and non-current, were $106.6 million at the end of the first quarter.
Since the share repurchase programs commenced in 2007, the Company has invested approximately $38.5 million in repurchasing its shares. As of March 31, 2011, approximately 16.3 million American Depositary Shares (ADSs) were repurchased.

"Our better than expected sales in the first quarter were driven by strong demand across our products lines, with particular strength in products targeting the automotive, boom box, gaming, and high-end MP4 markets," stated Mr. Niccolo Chen, CEO of Actions Semiconductor. "We continue to enjoy leading market share in key market segments such as small color display MP3, QVGA MP4, and D1 PMP with gaming functions, and we are increasing our market share in fast growing newer market segments such as automotive, boom box, HD PMP, and HD gaming. We are pleased to see increased interest in our boom box products which are successfully penetrating larger brand name customers in China. In the high end market segments, we are continuing to develop products, including the newly launched Series 28 HD 1080P, which distinguishes Actions by offering differentiating features and cost competitive total solutions. We are encouraged by the current market trends."

For the second quarter of fiscal year 2011 ending June 30, 2011, Actions Semiconductor estimates revenue in the range of $10.0 to $11.0 million, gross margin will be approximately 40% and operating expenses higher on a sequential basis. The second quarter 2011 estimates include share-based compensation of approximately $0.5 million.

Permalink

Post a comment

Sunday, April 24, 2011

Liquidity Requirements

We expect to devote substantial capital resources to support our research and development efforts, hire and expand our sales and marketing resources, and for other corporate activities. We believe that our current cash and cash equivalents, cash flow from operations, and the proceeds from the sale of our equity and marketable securities will be sufficient to meet our anticipated cash needs, including our cash needs for working capital and capital expenditures, for at least the next 12 months.

Permalink

Post a comment

Friday, January 28, 2011

Comments & Business Outlook

ZHUHAI, China, Jan. 27, 2011 /PRNewswire-Asia/ -- Actions Semiconductor Co., Ltd. today reported its financial results for the fourth quarter and fiscal year ended December 31, 2010.

All financial results are reported on a U.S. GAAP basis.

Revenue for the fourth quarter of 2010 was $10.7 million, as compared to revenue of $9.3 million for the third quarter of 2010, and $7.9 million for the fourth quarter of 2009. Revenue for the year ended December 31, 2010 was $37.6 million, compared to revenue of $44.1 million for the year ended December 31, 2009.

Net loss attributable to Actions Semiconductor's shareholders for the fourth quarter of 2010 was $0.15 million, or $0.00 per ADS. This compares to net income attributable to Actions Semiconductor's shareholders of $1.9 million, or $0.03 per ADS, for the third quarter of 2010, and a net loss attributable to Actions Semiconductor's shareholders of $7.5 million, or $0.10 per ADS, for the fourth quarter of 2009. Net income for the full year of 2010 was $0.4 million, compared to a net loss of $10.4 million reported for the full year 2009. Net income per ADS was $0.01 for 2010, compared to net loss per ADS of $0.14 reported for the full year 2009.

Since the share repurchase programs commenced in 2007, the Company has invested approximately $35.2 million in repurchasing its shares. As of December 31, 2010, approximately 14.9 million American Depositary Shares (ADSs) were repurchased.

For the first quarter of fiscal year 2011 ending March 31, 2011, Actions Semiconductor estimates revenue in the range of $7.5 to $8.5 million, gross margin will be approximately 40% and operating expenses higher on a sequential basis. The first quarter 2011 estimates include share-based compensation of approximately $0.6 million.

Permalink

Learned helplessness is the belief that our own behavior does not influence what happens next; that is, behavior does not control outcomes or results. For example, when a student believes that she is in charge of the outcome, she may think, “If I study hard for this test,... (more)

Zon4Ever, Monday, January 31, 2011

Post a comment

Tuesday, November 2, 2010

Comments & Business Outlook

Third quarter of 2010

Revenue for the was $9.3 million, as compared to revenue of $9.7 million for the second quarter of 2010, and $13.4 million for the third quarter of 2009.

Net income attributable to Actions Semiconductor's shareholders for the third quarter of 2010 was $1.9 million, or $0.03 per ADS. The results for the third quarter of 2010 include a foreign exchange gain of $1.1 million, a reversal of over-estimated employee stock-based compensation expenses of $0.8 million, and a gain of $0.5 million resulting from the acquisition of additional equity interest in Mavrix. This compares to a net loss attributable to Actions Semiconductor's shareholders of $0.4 million, or $0.01 per ADS, for the second quarter of 2010, and a net loss attributable to Actions Semiconductor's shareholders of $0.6 million, or $0.01 per ADS, for the third quarter of 2009.

Business Outlook

For the fourth quarter of fiscal year 2010 ending December 31, 2010, Actions Semiconductor estimates

Revenue in the range of $8.5 to $9.5 million

Gross margin approximately flat with third quarter, and operating expenses slightly higher on a sequential basis.

The fourth quarter 2010 estimates include share-based compensation of approximately $0.7 million.

Permalink

Post a comment

Tuesday, August 4, 2009

Comments & Business Outlook

The following statements are based upon management’s current expectations. These statements are forward-looking, and actual results may differ materially. The company undertakes no obligation to update these statements.

Guidance Report:

Third quarter of fiscal year 2009 ended September 30, 2009:

*Revenue in the range of $11 to $13 million.
Gross margin of 25%-30%.
Operating expenses slightly higher than the second quarter 2009.
The third quarter 2009 estimates include share-based compensation expense in the range of $0.9 to $1.0 million.

* Third quarter 2008 revenues were $27.3 million.

Source: PR Newswire (August 3, 2009)

Permalink

Post a comment

Saturday, May 9, 2009

Comments & Business Outlook

Guidance Report:

Second quarter of fiscal year 2009 ended June 31, 2009:

*Revenue in the range of $9 to $12 million.
Gross margin of 30%-35%.
Operating expenses relatively slightly higher than the first quarter 2009.
The second quarter 2009 estimates include share-based compensation expense in the range of $1.0 to $1.2 million.

* Second quarter 2008 revenues were $26.6 million.

Source: PR Newswire (May 6, 2009)

Permalink

Post a comment

Sunday, January 25, 2009

Comments & Business Outlook

Guidance Report:

First quarter of fiscal year 2009 ended March 31, 2009:

*Revenue in the range of $8 to $11 million.
Gross margin of 30%-35%.
Operating expenses relatively lower than 2008 annual average.
The first quarter 2009 estimates include share-based compensation expense in the range of $1.1 to $1.2 million.

* First quarter 2008 revenues were $25.19 million.

"Looking to 2009, we expect the operating environment to continue to be challenging. We have conducted a comprehensive review to identify additional operating efficiencies and we will continue to implement stringent expense controls. We believe we are well-positioned for the long-term given our strong balance sheet and market share. We remain committed to our continued product development efforts, aggressive share repurchase program, prudent management of our high level of cash, and conservative investment strategy which all complement our core business model and enable maximum operating flexibility."

Source: PR Newswire (January 21, 2009)

Permalink

Post a comment