Actions Semiconductor Co., Ltd. (NASDAQ:ACTS)

ZHUHAI, China, Dec. 16, 2016 /PRNewswire/ -- Actions Semiconductor Co., Ltd. ("Actions Semiconductor" or the "Company") (NASDAQ: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced the completion of its merger (the "Merger") with Starman Limited ("Merger Sub", a wholly owned subsidiary of Supernova Investment Ltd. ("Parent"), pursuant to the previously announced agreement and plan of merger dated September 12, 2016 (the "Merger Agreement"), among the Company, Parent, Merger Sub and other certain shareholders of the Company: Surrey Glory Investments Inc., Tongtong Investment Holding Co., Ltd., Perfectech Int'l Ltd., Allpremier Investment Limited, Octovest International Holding Co., Ltd., Ventus Corporation, Middlesex Holdings Corporation Inc, Rich Dragon Consultants Limited, Nutronics Technology Corporation, Uniglobe Securities Limited, New Essential Holdings Limited, Embona Holdings (Malaysia) Limited, Suffolk Dragon Ventures Ltd, and Top Best Development Limited (collectively with Parent, the "Buyer Group").  As a result of the Merger, Merger Sub has merged with and into the Company, with the Company continuing as the surviving company and wholly owned by the Buyer Group.  

Pursuant to the terms of the Merger Agreement, which was approved at the extraordinary meeting of shareholders held on December 9, 2016, each of the Company's ordinary shares, par value US$0.00001 per share, issued and outstanding immediately prior to the effective time of the merger (the "Shares") has been cancelled in exchange for the right to receive US$0.366 in cash without interest, and each American Depositary Share ("ADS") of the Company, every ADS representing six Shares, has been cancelled in exchange for the right to receive US$2.20 in cash without interest, except for (a) certain Shares (including Shares represented by ADSs) owned by the Rollover Shareholders, each of which will continue to exist and become one ordinary share, par value of $0.00001 each, of the surviving company, (b) Shares (including Shares represented by ADSs) owned by the Company or any of its subsidiaries, (c) Shares reserved (but not yet issued and allocated) by the Company for issuance and allotment upon exercise of any share incentive awards issued under the Company's employee share incentive plans, and (d) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands (the "Dissenting Shares"), which have been cancelled in exchange for the right to receive the payment of fair value of the Dissenting Shares in accordance with Section 238 of the Companies Law of the Cayman Islands.

Shareholders of record as of the effective time of the Merger who are entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration (net of any applicable withholding taxes). Shareholders should wait to receive the letter of transmittal before surrendering their share certificates. As to ADS holders entitled to the merger consideration, payment of the merger consideration of US$2.20 per ADS in cash without interest (less a cancellation fee of US$0.05 per ADS and net of any applicable withholding taxes) will be made to ADS holders promptly after JPMorgan Chase Bank, N.A., the Company's ADS depositary, receives the merger consideration.

The Company also announced today that it requested that trading of its ADSs on the Nasdaq Global Market ("NASDAQ") be suspended as of the close of trading on December 16, 2016. The Company requested NASDAQ to file a Form 25 with the U.S. Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of its ADSs on NASDAQ and the deregistration of the Company's registered securities. The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC.  The Company's obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration becomes effective.

Second Quarter 2016 Financial Results

• Revenue for the second quarter of 2016 was $13.9 million, as compared to revenue of $12.0 million for the first quarter of 2016, and $13.7 million for the second quarter of 2015.
• Net loss attributable to Actions Semiconductor's shareholders for the second quarter of 2016 was $7.9 million or $0.179 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $3.9 million or $0.089 per basic and diluted ADS, for the first quarter of 2016, and net loss attributable to Actions Semiconductor's shareholders of$3.7 million or $0.063 per basic and diluted ADS, for the second quarter of 2015.

ZHUHAI, China, Aug. 15, 2016 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today that its wholly-owned subsidiary Actions Technology (Zhuhai) ("Actions Technology") has released the V100, a high performance chipset for personal 3D cinema headsets. 

The V100 is a versatile, all-in-one solution tailored for 3D movie watching applications. The V100 integrates a MIPS32 processor together with a compact integrated video engine, display subsystem and audio engine to deliver an immersive 3D video experience. It supports up to 1280x800@60fps LCD display and all standard video decoding playback capabilities which includes H.264 FHD 1080P@30fps video decoder. The V100 features DDR2/DDR1 DRAM, SPI NOR, NAND Flash Controller with max 40-bit ECC, integrated RGB and LVDS LCD interface, built-in stereo 20-bit DAC and 20mW power amplifier for headphones. The V100 offers rich interfaces such as USB 2.0, SDIO and integrates several regulators to maximize power efficiency and reduce residual heat.

"Our latest solution for personal 3D cinema headsets allows users to enjoy a high definition 3D big screen experience at any time from anywhere, and can be used in applications beyond entertainment such as commercial advertising. The V100 combines MIPS + DSP flexible and efficient architecture, a powerful video engine, high quality 3D surround sound and power efficiency to deliver an engrossing and immersive 3D movie watching experience. With its leading edge features and attractive price-to-performance ratio, we believe the V100 is the optimal choice for manufacturers of entry-level, wearable 3D viewers," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

ZHUHAI, China, July 26, 2016 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today that its wholly-owned subsidiary Actions Technology (Zhuhai) ("Actions Technology") has released two high performance chipsets based on 28 nm process technology, the S900VR and the V700, targeting the fast growing virtual reality market. The Company launched the new products at a media event held at JW Marriot Hotel in Shenzhen earlier today.

The S900VR is an all-in-one solution designed for high performance 360 degree panoramic virtual reality devices. Rooted in Actions' S900 28-nm chipset, the S900VR features 64-bit architecture and a quad-core ARM Cortex-A53 processor, as well as a world-class Imagination PowerVR G6230 GPU. The S900VR provides up to 4K video and image effects with high refresh rates and a low persistence display to minimize cybersickness, as well as latencies below 20ms. It provides superior performance and supports up to 2560x1600@60fps LCD display and all standard video decoding playback capabilities which includes FHD 1080P@60fps / H.265 HEVC 4K x 2K@30fps video decoder. The S900VR supports 4K UHD, 360 degree panoramic video playback, distortion and dispersion adjustment technology, pupillary distance adjustment and left and right split-screen technology.

The V700 offers an all-in-one virtual reality solution for mid-end, 360 degree panoramic virtual reality devices with an attractive price-to-performance ratio.  An extension of Actions' GT7 28-nm chipset, the V700 features 64-bit architecture, a quad-core ARM Cortex-A53 CPU and a high performance ARM Mali-450 GPU. Its compact integrated VPU is qualified for almost full format video decoding/encoding capabilities and the V700's advanced Display Engine is designed for displaying 4K video and image effects with high refresh rates and a low persistence display to minimize cybersickness. It supports up to 1920x1080@60fps LCD display and all standard video decoding playback capabilities which includes FHD 1080P@60fps / H.265 HEVC 4K x 2K@30fps video decoder.

Both the S900VR and the V700 have rich peripheral interfaces, providing customers with convenient expansion options, and the ability to integrate with a wide variety of ports. They also incorporate Actions' newest generation ultra low power design, maximizing power efficiency and reducing residual heat.

"We have leveraged our portfolio of 28-nm chipsets to extend our product offerings to address the fast growing virtual reality market.  Our new all-in-one virtual reality solutions offer leading edge features including 4K UHD, 360 degree panoramic video playback, split-screen and 2D/3D technology and adaptive video playback mode. True to Actions' 15 years of audio experience, the S900VR and the V700 provide end users superior 3D surround sound along with latencies below 20ms and low power consumption, ultimately resulting in a superior virtual reality experience. We believe the S900VR and the V700 are compelling solutions with attractive BOM costs that will appeal to manufacturers of virtual reality headsets. We are excited about the opportunities in this market and plan to launch additional products in the near future," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

First Quarter 2016 Financial Results

• Revenue for the first quarter of 2016 was $12.0 million, as compared to revenue of $11.9 million for the fourth quarter of 2015, and $10.5 million for the first quarter of 2015.
• Net loss attributable to Actions Semiconductor's shareholders for the first quarter of 2016 was $3.9 million or $0.089 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $7.2 million or $0.162 per basic and diluted ADS, for the fourth quarter of 2015, and net loss attributable to Actions Semiconductor's shareholders of $5.0 million or $0.085 per basic and diluted ADS, for the first quarter of 2015. Although the net loss for the first quarter of 2016 was less than the net loss in the first quarter of 2015, the loss per ADS increased due to fewer total shares outstanding following the repurchase of almost 14.0 million shares in a Dutch auction tender offer in September 2015.

Commenting on the first quarter results, Dr. Zhenyu Zhou, CEO of Actions Semiconductor said, "Revenue for the quarter came in at the high end of our expectations. Traditionally, the first quarter of the year is the seasonally slowest quarter due to the Chinese New Year holiday, which causes a slowdown in production by consumer electronics manufacturers in China for approximately three to four weeks. First quarter revenue was above year ago levels primarily due to strong shipments of our solutions for Bluetooth-enabled devices and an increase in shipments of tablet SoCs. Smart product solutions, including open source SoCs and reference design platforms, continue to ramp slowly, but are making a positive impact on gross margin.

"The semiconductor industry as a whole has moved beyond much of the turbulence it faced at the beginning of the year. Given the outlook for our current target markets, our ability to increase revenue will be somewhat limited for the next few quarters. Yet, we see some opportunities for growth and will strive to increase our top line in 2016. Our portfolio of Bluetooth solutions is positioned to capture additional share in the Bluetooth audio and music market along with fast growing new verticals such as wearables and automotive products. In our application processor business, we plan to maintain our share in the tablet market leveraging our existing product portfolio and will continue to introduce new, differentiated solutions in profitable and growing markets such as virtual reality products. We also plan to carefully manage expenses, and expect R&D expenditures in 2016 to be below 2015 levels," Dr. Zhou concluded.

ZHUHAI, China, May 20, 2016 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (ACTS) ("Actions Semiconductor" or the "Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced that its Board of Directors has received a preliminary non-binding proposal letter, dated May 19, 2016, from Mr. Hsuan-Wen (Niccolo) Chen, former CEO of the Company, and certain of his affiliates and affiliated entities (together, the "Consortium Members"), that proposes a "going-private" transaction involving the acquisition of all of the outstanding equity interest of the Company not already owned by the Consortium Members at price of US$2.00 per American depositary share ("ADS") or US$0.333 per ordinary share, each ADS represents six ordinary shares (the "Transaction"). According to the proposal letter, the Consortium Members beneficially owned, in the aggregate, approximately 34.61% of the Company's outstanding share capital. A copy of the proposal letter is attached hereto as Exhibit A.

The Company cautions its shareholders and others considering trading in its securities that the proposal received by its Board of Directors is preliminary and non-binding in nature and the Board of Directors has not made any decisions with respect to the Company's response to the proposal. There can be no assurance that any definitive offer will be made by the Consortium Members or any other person, that any definitive agreement will be executed relating to the proposed Transaction, or that the proposed Transaction or any other transaction will be approved or consummated.

The Company's Board of Directors has formed a special committee of independent directors (the "Special Committee") consisting of Messrs. Chin-Hsin (Fred) Chen, Jun-Tse (Walter) Huang and Yu-Hsin (Casper) Lin, who are independent from the Consortium Members and the management of the Company, to consider the proposal. The Board of Directors expects that the Special Committee will adopt various procedures and protocols designed to fully and fairly evaluate the proposal as well as safeguard the interest of the Company's shareholders that are unaffiliated with the Consortium Members. The Special Committee is authorized to retain financial, legal and other advisors to assist it in its review of the Transaction as well as negotiate the proposal or to consider any other strategic options available to the Company as the Special Committee deems necessary or appropriate.

Fourth Quarter 2015 Financial Results

• Revenue for the fourth quarter of 2015 was $11.9 million, as compared to revenue of $13.0 million for the third quarter of 2015, and $13.9 million for the fourth quarter of 2014.
• Net loss attributable to Actions Semiconductor's shareholders for the fourth quarter of 2015 was $7.2 million or $0.162 per basic and diluted American Depositary Share ("ADS").  This compares to net loss attributable to Actions Semiconductor's shareholders of $12.6 million or $0.217 per basic and diluted ADS, for the third quarter of 2015, and net loss attributable to Actions Semiconductor's shareholders of $12.2 million or $0.206 per basic and diluted ADS, for the fourth quarter of 2014.

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.

Based on current market trends, the Company expects revenue in the first quarter of 2016 to be in the range of $11.5 to $12.0 million.  Traditionally the first quarter of the year is the seasonally slowest quarter due to the Chinese New Year holiday, which causes a slowdown in production by consumer electronics manufacturers in China for approximately three to four weeks.  However, in the first quarter of 2016 the Company expects revenue to be above year ago levels as a result of strong demand for its latest solutions for Bluetooth-enabled devices and a slight increase in shipments of its application processor SoCs. For the full year, the Company expects challenging conditions in the worldwide semiconductor industry to limit its ability to increase revenue.

• Revenue for the third quarter of 2015 was $13.0 million, as compared to revenue of $13.7 million for the second quarter of 2015, and$13.1 million for the third quarter of 2014. 
• Net loss attributable to Actions Semiconductor's shareholders for the third quarter of 2015 was $12.6 million or $0.217 per basic and diluted American Depositary Share ("ADS").  This compares to net loss attributable to Actions Semiconductor's shareholders of $3.7 million or $0.063 per basic and diluted ADS, for the second quarter of 2015, and net loss attributable to Actions Semiconductor's shareholders of $9.2 million or $0.137 per basic and diluted ADS, for the third quarter of 2014. 

Commenting on the third quarter results, Dr. Zhenyu Zhou, CEO of Actions Semiconductor said, "Revenue in the third quarter came in at the low end of expectations, primarily due to a global slowdown in demand for smartphones, tablets and other consumer electronics. Two of our key target markets, tablets and China's open market for OTT set-top boxes, both experienced a decline in shipments during the quarter.  Although we saw a third consecutive quarter gross margin improvement, our bottom line was impacted by a write-down of intangible assets, along with mask expenses associated with the latest chipset in the 28nm series product family, expenses from the Dutch auction tender offer and non-cash expenses related to the devaluation of the Chinese Renminbi relative to the US dollar.

"On a positive note, we continued to see new design wins for our Bluetooth 4.2 solutions for speakers and other Bluetooth enabled audio devices along with stronger than anticipated sales of video boomboxes and other traditional multimedia products. Consumer demand for smart connected devices remains strong, and volumes of our smart product solutions, including our open source SoCs and reference design platforms, continue to ramp. 

"As we approach year end, the worldwide semiconductor industry has now experienced slower growth and has not seen the typical ramp in sales leading up to the holiday season.  In addition, the PRC government recently imposed a new policy on the OTT set-top box market that is negatively impacting demand. We expect these factors to limit our ability to increase revenue for the next several quarters.  As a result, we now expect revenue for the full year to be slightly below 2014 levels. However, we are encouraged by the success of our Bluetooth solutions and are hopeful that strong consumer demand for smart products will drive adoption of our latest 64-bit chipset based on 28nm process technology, along with our open source SoCs and reference design platforms in the year ahead," Dr. Zhou concluded.

ZHUHAI, China, October 3, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today the final results of its previously announced "Dutch auction" tender offer for the purchase for cash of up to 84,000,000 of its issued and outstanding ordinary shares (the "Shares") (including Shares represented by American Depositary Shares (the "ADSs", together with the Shares, the "Securities")), at a purchase price not greater than $23/60 per Share (or $2.30 per ADS) nor less than $20/60 per Share (or $2.00 per ADS), which expired at 5:00 P.M., Eastern Daylight Savings time, on Tuesday, September 29, 2015.

Actions Semiconductor has accepted for purchase 83,999,299 Shares (including Shares represented by ADSs) at a price of $23/60 per Share (or $2.30 per ADS), for an aggregate cost of approximately $32.2 million, excluding fees and expenses relating to the tender offer.

Based on the final tabulation by Laurel Hill Advisory Group Company, the depositary for the tender offer (the "Depositary"), a total of 87,546,158 Shares (including Shares represented by ADSs) were properly tendered and not withdrawn, of which 87,546,158 Shares (including Shares represented by ADSs) were properly tendered and not withdrawn at a price of $23/60 per Share (or $2.30 per ADS). Actions Semiconductor has been informed by the Depositary that the final proration factor is approximately 95.95%.

The Depositary has commenced issuing payment for the Securities validly tendered and accepted for purchase. The Depositary will promptly return any validly tendered Securities that are not purchased pursuant to the tender offer to the tendering holders.

Immediately following the purchase of the tendered Securities, Actions Semiconductor expects to have approximately 265,732,006 Shares (including Shares represented by ADSs) issued and outstanding.

ZHUHAI, China, October 1, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today the preliminary results of its previously announced "Dutch auction" tender offer for the purchase for cash of up to 84,000,000 of its issued and outstanding ordinary shares (the "Shares") (including Shares represented by American Depositary Shares (the "ADSs", together with the Shares, the "Securities")), at a purchase price not greater than $23/60 per Share (or $2.30 per ADS) nor less than $20/60 per Share (or $2.00 per ADS), which expired at 5:00 P.M., Eastern Daylight Savings time, on Tuesday, September 29, 2015.

Based on the preliminary count by Laurel Hill Advisory Group Company, the depositary for the tender offer, a total of 87,886,388 Shares (including Shares represented by ADSs) were properly tendered and not properly withdrawn, including 894,678 Shares (including Shares represented by ADSs) which were tendered pursuant to notice of guaranteed delivery procedures and 4,561,242 Shares (including Shares represented by ADSs) which were conditionally tendered by Security holders and for which the determination whether the applicable conditions were met will be made following the verification process described below.

In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, Actions Semiconductor expects to accept for purchase 84,000,000 Shares (including Shares represented by ADSs) at a purchase price of $23/60 per Share (or $2.30 per ADS), for an aggregate cost of approximately $32.2 million, excluding fees and expenses relating to the tender offer.

The 84,000,000 Shares (including Shares represented by ADSs) expected to be purchased in the tender offer represent approximately 24.0% of Actions Semiconductor's currently issued and outstanding Shares (including Shares represented by ADSs). Based on these preliminary numbers, Actions Semiconductor anticipates that, following settlement of the tender offer, it will have approximately 265,731,305 Shares (including Shares represented by ADSs) issued and outstanding.

Due to the oversubscription of the tender offer, Actions Semiconductor expects that the number of Shares (including Shares represented by ADSs) that the Company will purchase from each tendering holder of Shares and/or ADSs will be prorated. Based on the preliminary count, Actions Semiconductor estimates that the proration factor will be approximately 95.58%, assuming all the Securities tendered pursuant to guaranteed delivery procedures are properly delivered and the conditions for all conditional tenders are met.

The number of Shares (including Shares represented by ADSs) to be purchased and the proration information are preliminary and subject to change. The preliminary information contained in this press release is subject to confirmation by the depositary, the proper delivery of all Securities tendered (including Securities tendered pursuant to guaranteed delivery procedures) and the final determination of the treatment of Securities conditionally tendered by Security holders. The final number of Shares (including Shares represented by ADSs) to be purchased and the final proration information will be announced following the expiration of the guaranteed delivery period and completion by the depositary of the confirmation process. Payment for the Securities accepted for purchase under the tender offer, and return of all other Securities tendered and not purchased, will occur promptly thereafter.

ZHUHAI, China, September 12, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS)("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today that it has amended its previously announced self "Dutch auction" tender offer to (1) increase the size of the offer to up to 84,000,000 of its issued and outstanding ordinary shares ("the Shares") (including Shares represented by ADSs), (2) increase the price range at which it will purchase the issued and outstanding ordinary shares to not greater than $23/60 per Share (or $2.30 per ADS) nor less than $20/60 per Share (or $2.00 per ADS) and (3) extend the expiration date of the tender offer to 5:00 p.m., Eastern Daylight Savings Time, on Tuesday, September 29, 2015. The Company is also reaffirming guidance for third quarter 2015 and fiscal 2015, presented on August 14, 2015. The Company undertakes to provide a further update prior to the closing of the tender offer to the extent there are any material changes to guidance for third quarter 2015 and fiscal 2015.

Information Relating to the Tender Offer Amendment and Extension

Under the terms of the tender offer, the Company invites holders of Shares and ADSs (together, the "Securities") to tender their Securities at prices specified by such holders within such range of prices described further in the amended offer materials. The Company will select the lowest single per Share purchase price or per ADS purchase price, as applicable, that will allow it to buy up to 84,000,000 issued and outstanding Shares, which represent approximately 24.0% of Actions Semiconductor's currently issued and outstanding ordinary shares, $0.000001 par value per share at the completion of the tender offer. Tenders of Securities must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. As previously announced, the tender offer will not be conditioned upon any minimum number of shares being tendered. The tender offer is, however, subject to the satisfaction of certain terms and conditions as described in the original Offer to Purchase and the Supplement to the Offer to Purchase. The tender offer was originally made pursuant to the Offer to Purchase, dated August 24, 2015, which was previously filed with the Securities and Exchange Commission ("SEC") and forwarded to shareholders. A Supplement to the Offer to Purchase and amended letters of transmittal and related materials containing a complete explanation of the amended terms and conditions of the tender offer and revised instructions for tendering the Securities will be promptly filed with the SEC and forwarded to shareholders of record.

Holders who have previously tendered securities, and do not wish to either withdraw the tender of those securities, increase the number of securities tendered or change their indication of a specific price at which Shares (including Shares represented by ADSs) are being tendered, do not need to take any further action. As a result of the increase in the minimum price from US$18/60 per Share (or US$1.80 per ADS) to US$20/60 per Share (or US$2.00 per ADS), any Shares (including Shares represented by ADSs) previously tendered into the tender offer at any price below US$18/60 per Share (or US$1.80 per ADS) will now be deemed to have been tendered at US$20/60 per Share (or US$2.00 per ADS). Holders who have previously tendered securities, and wish either to increase the number of securities tendered or change their indications of a specific price at which Shares (or ADSs) are being tendered, must deliver an amended letter of transmittal to the depositary for the tender offer on or prior to the expiration date.

Neither Actions Semiconductor, its board of directors, dealer managers nor the information agent is making any recommendation to holders of the Securities as to whether to tender or refrain from tendering their Securities or as to the purchase price on any tender. Actions Semiconductor has been advised that none of its directors or executive officers intends to tender any Securities pursuant to the offer. The information agent for the tender offer is Laurel Hill Advisory Group, LLC and the depositary for the tender offer is Laurel Hill Advisory Group Company. Laurel Hill Securities, LLC and Imperial Capital, LLC are acting as the dealer managers for this tender offer.

Reaffirmation of Third Quarter 2015 and Fiscal 2015 Guidance

The Company also reaffirmed its third quarter 2015 and fiscal 2015 guidance previously announced on August 14, 2015. For third quarter 2015, the Company reaffirmed revenue guidance of $13.0 to $14.0 million. For fiscal 2015, the Company reaffirmed that it continues to anticipate revenue growth for the full year 2015 but at a slower pace than previously expected due to declining demand in tablet market and longer than anticipated design and qualification times for SoCs targeting other types of smart devices and hardware.

ZHUHAI, China, August 24, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today that it is commencing a self "Dutch auction" tender offer today to purchase for cash up to 48,000,000 of its issued and outstanding ordinary shares, which represents approximately 13.7% of Actions Semiconductor's currently outstanding ordinary shares, $0.000001 par value per share (the "Shares") (including Shares represented by American Depositary Shares (the "ADSs")), at a purchase price not greater than $21/60 per Share (or $2.10 per ADS) nor less than $18/60 per Share (or $1.80 per ADS). Under the terms of the tender offer, the Company will invite holders of Shares and ADSs (together, the "Securities") to tender their Securities at prices specified by such holders within such range of prices described further in the offer materials. The Company will select the lowest single per Share purchase price or per ADS purchase price, as applicable, that will allow it to buy up to 48,000,000 issued and outstanding Shares (including Shares represented by ADSs) at completion of the tender offer. The tender offer will expire at 5:00 p.m., Eastern Daylight Savings Time, on Tuesday, September 22, 2015, unless extended by the Company. Tenders of Securities must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to the terms and conditions described in the offer to purchase and the related materials being distributed to holders of the Securities and filed with the Securities and Exchange Commission (the "SEC").

Mr. David Lee, Chairman of the Company, noted that, "Over the last year, we successfully realigned our internal reporting structure and employee incentive program, and we continue to seek potential strategic alliance partners along the supply chain to help us expand our sales channels, enhance our technology base and create a larger ecosystem around our platform. We are also exploring the possibility of listing our subsidiaries on one of the exchanges in the Greater China region, which could in turn increase the valuation of our ADSs listed in the US, as well as other strategic initiatives to further increase our shareholder value."

"Although our ability to increase our revenue over the last few years has been limited, we have established a solid foundation to address the rapidly expanding Bluetooth, IoT and smart hardware markets in the future. We also continue to anticipate revenue growth in the second half of 2015, notwithstanding that, as everyone is aware, China's growth rate has slowed. We hope our potential expansion into these high growth markets, along with the tender offer, will serve to increase shareholder value and, in the meanwhile, provide holders of our Securities with sufficient liquidity to exit the market while maintaining a sufficient volume of traded shares for investors who continue to value our Company."

Neither Actions Semiconductor, its board of directors, dealer managers nor the information agent is making any recommendation to holders of the Securities as to whether to tender or refrain from tendering their Securities or as to the purchase price on any tender. Actions Semiconductor has been advised that none of its directors or executive officers intends to tender any Securities pursuant to the offer. The information agent for the tender offer will be Laurel Hill Advisory Group, LLC and the depositary for the tender offer will be Laurel Hill Advisory Group Company. Laurel Hill Securities, LLC and Imperial Capital, LLC will act as the dealer managers for this tender offer.

Second Quarter 2015 Financial Results

Revenue for the second quarter of 2015 was $13.7 million, as compared to revenue of $10.5 million for the first quarter of 2015, and $12.0 million for the second quarter of 2014.

Net loss attributable to Actions Semiconductor's shareholders for the second quarter of 2015 was $3.7 million or $0.063 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $5.0 million or $0.085 per basic and diluted ADS, for the first quarter of 2015, and net loss attributable to Actions Semiconductor's shareholders of $3.5 million or $0.050 per basic and diluted ADS, for the second quarter of 2014.

Commenting on the second quarter results, Dr. Zhenyu Zhou, CEO of Actions Semiconductor said, "Revenue in the second quarter came in at the high end of our expectations and we achieved a meaningful improvement in gross margin. Sales of our multimedia products performed well, driven by strong demand for our Bluetooth 4.0 solutions for Bluetooth enabled audio and other related products as well as stronger than anticipated sales of our video boombox solutions and other traditional multimedia products. In our application processor business, conditions in the worldwide tablet market remained challenging, reflecting a maturing market fraught with intense competition. Although demand for smart devices such as virtual reality devices, netbooks, digital signage, POS machines and smart micro-projectors is strong, volumes of our 32-bit and 64-bit smart product SoCs based on 28 nm process technology have ramped more slowly than anticipated due to longer design and qualification times for some of these products.

"Looking ahead, we continue to anticipate revenue growth for the full year 2015, but at a slower pace than our previous expectations. Our Bluetooth solutions, led by our new single chip Bluetooth 4.0 SoC for Bluetooth enabled audio and related products are rapidly gaining market share with healthy growth in volume. We will expand our presence in this fast growing market with our upcoming Bluetooth 4.0 headset solution. We remain confident that strong consumer demand will continue to drive adoption of our latest 32-bit and 64-bit chipsets based on 28 nm process technology for smart products such as digital signage, virtual reality devices and netbooks based on popular operating systems. We believe the open source intelligent hardware community will play an important role in the development of diversified smart products in the IoT market, and our new ActDuino 32-bit S500 and ActDuino 64-bit S900 open source SoCs and reference design platforms for Android and Linux target a wide range of leading edge smart connected products," Dr. Zhou concluded.

ZHUHAI, China, May 14, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced that its wholly owned subsidiary, Actions Technology (Zhuhai) ("Actions Technology") released a new 64-bit high performance open source platform SoC, the S900, along with a reference design platform, the ActDuino S900, targeting the Android and Linux open source platform markets for a wide range of leading edge smart connected products, including game console boxes, high performance computing digital display signage, notebooks based on popular OS, smart projectors, educational devices, robots, virtual reality devices and other differentiated electronics devices.

Combining 64-bit architecture with 28nm process technology, the S900 features a highly integrated compact design, high-performance computing, low-power consumption, robust peripherals and rich diversity.  The S900 SoC integrates a quad-core ARM Cortex-A53 processor with TrustZone^� Security system, as well as a high performance, world-class Imagination PowerVR G6230 GPU.  The S900 SoC provides superior performance and supports up to 2560x1600@60fps LCD display with Ultra HD(4K) @30fps external HDMI TV display dual-screen output and all standard video decoding playback capabilities which includes HEVC 4K x 2K@30fps / H.264 FHD 1080P@60fps video decoder.  The internal ISP (Image Signal Processor) is also integrated for up to 13M pixels cameras. The S900 SoC has rich peripheral interfaces, providing customers with convenient expansion needs, and integrates with a wide variety of ports.

The ActDuino S900 open source reference design platform, also features 64-bit architecture with 28nm process technology and supports the Android 5.x, Linux and Ubuntu operating systems.  It includes a hardware reference design schematic and board layout diagram supplemented by abundant tools, documents, and other necessary resources to help Actions Technology's partners quickly introduce new customized solutions to capture the industry trend of 64-bit architecture with powerful performance and rich diversity, in addition to creating their own development boards and establish themselves in the high-end SoC market.

As a founding member of Linaro's 96Boards initiative, Actions Technology's 64-bit S900 plays an integral role in this new open source development platform that combines Actions' low-cost design and manufacturing experience with Linaro's software expertise to produce a very high performance and diversified development platform for a broad range of software developers, from professional developers in large corporations to individual enthusiasts and makers.

"We are pleased to extend our open source product offering with the high performance S900 SoC and ActDuino S900 reference design platform, featuring 28nm process technology with an ARM quad-core 64-bit CPU, Imagination PowerVR G6230 GPU and 4K HEVC (H.265) video decoding capabilities.  As a founding member of Linaro's 96Boards initiative, we are establishing a foothold in the open source intelligent hardware community, and we are excited the latest 96Boards product, the Bubblegum-96, drew strong interest at the Hong Kong Electronics Show," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "We remain committed to providing our partners with the best technology for the latest 64-bit ARM architecture and allowing them to quickly bring new products to market with powerful performance and rich diversity." 

First Quarter 2015 Financial Results

• Revenue for the first quarter of 2015 was $10.5 million, as compared to revenue of $13.9 million for the fourth quarter of 2014, and $11.3 million for the first quarter of 2014.
• Net loss attributable to Actions Semiconductor's shareholders for the first quarter of 2015 was $5.0 million or $0.085 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $12.2 million or $0.206 per basic and diluted ADS, for the fourth quarter of 2014, and net loss attributable to Actions Semiconductor's shareholders of $5.5 million or $0.080 per basic and diluted ADS, for the first quarter of 2014.

"Revenue in the first quarter came in at the mid-range of our expectations. Overall demand was slow, primarily due to the Chinese New Year holiday, which causes a slowdown in production by consumer electronics manufacturers in China, and softer demand for tablets, which currently account for the largest proportion of our application processor shipments, as the worldwide tablet market experienced a year-over-year decline in shipments for the second consecutive quarter. Our multimedia business exceeded expectations, thanks to strong demand for our Bluetooth 4.0 solutions for speakers and boomboxes and an abatement in the supply shortage from our wafer foundry," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"We entered 2015 armed with a portfolio of leading edge new products that address a wide range of new and profitable markets. We expect our new single chip Bluetooth 4.0 solution for boomboxes, speakers, headphones and related products to be the driving force in our multimedia business. We have two new chipsets based on 28nm process technology targeting branded tablets, OTT set-top boxes and other cloud connected devices. We began shipping our 28nm based 32-bit quad-core solution to the tablet and OTT set-top box markets in the first quarter and expect a significant volume increase in the second quarter and beyond. Our high performance 64-bit SoC is attracting strong customer interest and design wins and is expected to make meaningful contributions to revenue and gross profit in the second half of 2015. We are also supporting the open source intelligent hardware community for Android and Linux with the launch of 32-bit and 64-bit open-source SoCs S500 and S900 and reference design platforms, which we believe will drive development of differentiated new products for various cloud connected devices. We believe these new products will support revenue growth of 20% to 25% and good margin improvement in 2015," Dr. Zhou concluded.

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.

Based on current market trends, the Company expects revenue in the second quarter of 2015 to be in the range of $13.0 to $14.0 million. The Company expects shipments of its newly launched products to ramp quickly in the upcoming quarter and accelerate in the second half of 2015.

ZHUHAI, China, March 31, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced that its wholly owned subsidiary, Actions Technology (Zhuhai) ("Actions Technology") released a new open source platform SoC, the S500, along with a reference design platform, the ActDuino S500, targeting the Android and Linux open source platform markets for a wide range of smart connected products, including digital display signage, kiosks, netbooks based on Android, pico projectors, children's educational devices, robot toys, and other differentiated consumer electronics.

The S500 is an open platform quad-core 32-bit SoC featuring a highly integrated design, high-performance computing, low-power consumption, low-cost, and robust peripherals. Based on 28nm process technology, the S500 SoC integrates a quad-core ARM Cortex-A9R4 processor with NEON SIMD co-processor and Imagination PowerVR SGX544 GPU. The S500 SoC provides powerful performance and supports 2K @ 60fps (1920 1200) LCD + 1080P HDMI dual-screen output and all standard video decoding playback capabilities. In order to serve the diverse needs of the open source market, the S500 SoC has rich peripheral interfaces, providing customers with convenient expansion needs, and integrates with Multi-USBs, I2C, SPI, UART, I2S, PCM, SPDIF, MIPI DSI / CSI, HDMI, Ethernet and other ports.

The ActDuino S500 open source reference design platform supports the Android 5.0 Lollipop, Linux and Ubuntu operating systems. It includes a hardware reference design schematic and board layout diagram supplemented by abundant tools, documents, and other necessary resources to help Actions Technology's partners quickly introduce new customized solutions in a cost effective way, in addition to creating their own development boards geared toward makers and individual hobbyists.

"Given insatiable consumer demand for smart connected devices and innovative IoT solutions, we expect software developers to be excited by the S500 SoC and ActDuino S500 reference design platform. Utilizing 28nm process technology with an ARM quad-core Cortex-A9 powerful CPU, Imagination PowerVR SGX544 GPU and all standard high definition video decoding capabilities, our partners can accelerate device innovation for distinctive intelligent Android and Linux products using our open source SoC and development platform," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"We are pleased to provide support for the open source intelligent hardware community with the launch of our new SoC and reference design platform, along with our recent partnership with Linaro as a founding member of the 96Boards initiative. The open source community is vital to a healthy ecosystem, and our goal is to ensure all developers have access to the most cost-effective and best technology for the latest 32-bit and 64-bit ARM architecture," Dr. Zhou concluded.

Fourth Quarter 2014 Financial Results

• Revenue for the fourth quarter of 2014 was $13.9 million, as compared to revenue of $13.1 million for the third quarter of 2014, and $17.6 million for the fourth quarter of 2013.
• Net loss attributable to Actions Semiconductor's shareholders for the fourth quarter of 2014 was $12.2 million or $0.206 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $9.2 million or $0.137 per basic and diluted ADS, for the third quarter of 2014, and net loss attributable to Actions Semiconductor's shareholders of $0.8 million or $0.012 per basic and diluted ADS, for the fourth quarter of 2013.

"In the fourth quarter of 2014, revenue came in toward the low end of our expectations, primarily due to the lingering effects of a supply shortage of wafers for multimedia products from our foundry, along with relatively flat demand and persistent, intense competition in the worldwide tablet market. Negative gross margin, along with a non-cash impairment charge of intangibles related to the reorganization of our corporate structure contributed to the loss for the quarter," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"As our financial performance demonstrates, 2014 was a challenging year for Actions. Despite these challenges, we were steadfast in our commitment to invest in our future and expect to generate strong results in the year ahead. We are optimistic the recent launches of two new chipsets based on 28 nm process technology, including our ultra-high performance 64-bit, quad-core solution, the ATM9009, will allow us to compete more effectively in the application processor market including the tablet market, the OTT set-top box market and other cloud connected device market. These value-added application processor markets will move Actions beyond tablets into new and profitable growth markets. In our multimedia business, Bluetooth will be the driving force in 2015 and beyond. We expect our newly launched single-chip Bluetooth 4.0 solution for boomboxes, speakers, headphones and related products will establish Actions as a significant player in the rapidly growing Bluetooth voice and music market."

"Supported by these recent product launches, we are targeting revenue growth of 20% to 25% and a good margin improvement in 2015. We will also focus on cost control, with the goal of reducing operating expenses from 2014 levels," Dr. Zhou concluded.

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.

Based on current market trends, the Company expects revenue in the first quarter of 2015 to be in the range of $9.5 to $11.5 million. The Company's newly launched products are not expected to contribute to first quarter results, as sales volumes will begin to ramp in the second quarter of 2015. In addition, the first quarter of the year is traditionally the seasonally slowest quarter due to the Chinese New Year holiday, which causes a slowdown in production by consumer electronics manufacturers in China for approximately three to four weeks.

ZHUHAI, China, January 6, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced the launch of its new chipset, the ATS282X, an RF and audio processing integrated single-chip SoC for mid- to high-end Bluetooth stereo speakers, boomboxes and headphones.

Actions' ATS282X chipset is a high performance, single-chip Bluetooth 4.0 dual mode solution that integrates MCU, DSP and RF on a single-chip, is compatible with Bluetooth V2.1, V3.0 and Bluetooth Low Energy (BLE) systems and supports Android and IOS operating systems simultaneously. As the first single-chip Bluetooth 4.0 dual mode solution launched among China IC design companies featuring superior audio performance, greater stability and a single-chip integrated design, it is a very attractive and competitive offering for the mid- to high-end Bluetooth voice and audio market.

The ATS282X includes a variety of serial controllers supporting I2S, I2C,SPDIF TX, SPI, UART, PWM, internal LED/segment LCD hardware and software driver, internal Aux in and Dual microphones, internal touch key and remote control, and an internal RTC circuit that supports clock, alarm and calendar functions. The ATS282X features an internal echo cancellation and noise suppression algorithm, while Bluetooth BLE support allows for improved energy efficiency and a longer battery life.

"The latest addition to our family of Bluetooth 4.0 chipsets, the ATS282X, combines an integrated solution with a high quality stereo experience and low power consumption at a very attractive BOM cost. We are excited to showcase this new product at the International CES 2015 and believe that it will garner a great deal of attention from mid- to high-end Bluetooth stereo speaker, boombox and headphone manufacturers," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "The Bluetooth voice and audio market is experiencing explosive growth, with shipments expected to reach more than 20 million units per month in 2015. We believe leading edge products such as the ATS282X, along with our dominant position in the non-apple portable audio and video market, will allow us to carve a healthy share of the mid- to high-end of this fast growing market."

ZHUHAI, China, January 5, 2015 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced that it will debut the inaugural chipset of its new Falcon Series product family, the ATM9009, a 64-bit quad-core solution for high-end Android tablets and OTT set-top boxes at the 2015 International CES from January 6-9, in Las Vegas, Nevada.

The ATM9009 is a new generation, ultra-high performance solution featuring a quad-core ARM® Cortex^TM A53 CPU with speeds up to 1.8GHz and a high performance, world-class Series6 Rogue GPU from Imagination Technologies offering high performance and low power consumption at an attractive price. The ATM9009 supports up to 4K Ultra HD decoding including the latest international standard - HVEC/H.265 video decoding. Combining with the 64-bit architecture, the ATM9009 employs 28nm process with Actions' Low Power Design Generation V technology and supports the Android 5.0 Lollipop operating system.

The inaugural member of the new Falcon Series product family is designed to provide the most advanced mobile user experience, including 4K Ultra HD video and high performance gaming with more efficient power consumption and a longer battery life. Also integrating EDP interface and supporting a wide range of "retina" LCD with up to 2560*1600 pixel resolution, the new ATM9009 SoC processor is a highly attractive and cost-effective solution across the board in high-end tablets, OTT set-top boxes and other cloud-connected devices.

"The mobile device industry has been undergoing dramatic change, with manufacturers migrating from single-core to dual-core to quad-core chipsets over the span of just a few years. The transition from 32-bit to 64-bit architecture for smart phones and tablets is also proceeding at a rapid clip, supported by the launch of the iPhone 5s in 2013 and new smart phones from all of the other major handset manufacturers in 2014," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "The 64-bit revolution is underway and we believe it will start to become the industry standard for Android tablets and OTT set-top boxes in 2015. As the first 64-bit solution launched dedicated to tablets and OTT set-top boxes, we expect to capture the industry trend at an early stage with a very compelling offering that delivers an exceptional user experience and low power consumption at an attractive BOM cost. The launch of the ATM9009 marks a new era for Actions, and we expect to swiftly establish a strong position in this market."

ZHUHAI, China, December 15, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced it will showcase its latest tablet and Bluetooth boombox solutions and preview its upcoming products at the 2015 International CES. Owned and produced by the Consumer Electronics Association (CEA)^®, the 2015 International CES, the world's gathering place for all who thrive on the business of consumer technologies, will run January 6-9, 2015 in Las Vegas, Nevada.

"We are excited to participate in the 2015 International CES, a global stage featuring the latest innovations in consumer electronics," said Dr. Zhenyu Zhou, CEO of C. "We expect our new and upcoming products to attract a great deal of attention, especially our 64-bit solution for high-end tablets. Offering an advanced mobile experience including 4K Ultra HD video, leading edge 3D gaming and supporting the Android Lollipop operating system, we expect potential customers and business partners to be drawn to its compelling price-to-performance and price-to-power ratios. We also expect our 32-bit solution supporting Android Lollipop for tablets and OTT-set top boxes, the ATM7059, along with our latest Bluetooth 4.0 solutions for boomboxes and headphones to spark strong interest at the event."

Third Quarter 2014 Financial Results

• Revenue for the third quarter of 2014 was $13.1 million, as compared to revenue of $12.0 million for the second quarter of 2014, and $16.9 million for the third quarter of 2013.
• Net loss attributable to Actions Semiconductor's shareholders for the third quarter of 2014 was $9.2 million or $0.137 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $3.5 million or $0.050 per basic and diluted ADS, for the second quarter of 2014, and net loss attributable to Actions Semiconductors shareholders of $0.2 million or $0.002 per basic and diluted ADS, for the third quarter of 2013.

"In the third quarter of 2014, revenue came in toward the low end of our expectations, primarily due to a supply shortage of 8-inch wafers for multimedia products from our foundry. Competition in the worldwide tablet market remained intense, keeping selling prices and margins low. Lower gross margin, combined with mask expenses related to our new application processor enabled by 28nm process technology and expenses related to our Dutch auction tender offer contributed to the loss for the quarter," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"Shipments of dual-core solutions accounted for the majority of tablet shipments during the quarter, and we saw a twofold increase in shipments of quad-core solutions, indicative of the accelerated migration from dual-core to quad-core solutions in the overseas tablet market. We expect another sequential increase in shipments in the fourth quarter, although challenging conditions in the tablet market will persist for the next few quarters.

"As we approach the end of 2014, we believe we are through the most challenging period in our tablet business and are preparing to harvest our investments in 28nm process technology and 64-bit architecture in the year ahead. We recently launched our first 28nm OWL series chipset, the ATM7059, which will target the branded and whitebox tablet market and Over-the-top ("OTT") set-top box market, with a 64-bit solution to be launched before year end. We also see strong potential in the Bluetooth boombox market, especially our Bluetooth 4.0 solutions, which we expect to be a major revenue driver in 2015 following the launch of our RF and audio processing integrated single chip SoC for Bluetooth boomboxes and headphones," Dr. Zhou concluded.

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.

Based on current market trends, the Company expects revenue in the fourth quarter of 2014 to be in the range of $14.0 to $16.0 million. The Company expects a sequential improvement in shipments in the fourth quarter of 2014, although challenging conditions in the tablet market will continue to impact revenue and margins in the near term.

LOS ANGELES, November 3, 2014 /PRNewswire/ -- Actions Semiconductor® Co., Ltd. (Nasdaq: ACTS) today introduced a new quad-core system-on-a-chip (SoC) to provide primary processing, connectivity, enhanced battery life and other capabilities in computer tablets and set top boxes (STB). The new processor is most ideal for mid-tier, high volume Android® tablet manufacturer designs. It will be available in the USA, Asia, Europe and other locations in November 2014.

The new Actions Semiconductor SoC is the ATM7059 and it is based on a 28nm LP process and fourth generation technology design. It is a 1.6GHz ARM® Cortex® A-9-based CPU with an Imagination Technologies™ PowerVR™ SGX Series5XT graphics processing unit (GPU). Other key applications include smart monitors, ultrabooks, digital signage, and other cloud-connected devices.

Video and Audio Capabilities

Key video capabilities include H.264 decoding with ultra HD 4K video playback. It also supports other mainstream formats, such as 1080P at 60fps capture. Video encoding is H.264 full 1080P HD at 60fps capture. The SoC allows for a primary LCD display and external 1080P display with support for HDMI 1.4. It also supports high-quality wireless Miracast and DLNA. The display engine provides scaling, alpha blending, and dithering and supports up to a 24 bit LCD controller using an LVDS/MIPI interface. Supported screen sizes are from 7-18 inches. A rear and front-facing camera can be supported, from 1.3-8MP and 0.3-2MP, respectively.

Operating System, Memory, Ports and Supported Sensors

Supported operating systems include Android KitKat 4.4.4 (2014Q4) and Android 5.0 Lollipop (2015Q1). Memory support, from 512MB to 2GB, includes: 8/16-bit DDR3/DDR3L, 16/32-bit LPDDR2 and LPDDR3. Internal storage support is rated at 4-64GB and includes support for primitive NAND Flash and eMMC 4.5. It also provides support for one USB 3.0 and two USB 2.0 connection ports with support for host and device mode.

In addition, the ATM7059 has a high level of integration for peripherals such as, SPI, UART, TWI, SPID, TS, 10/100Base Ethernet MAC, and more. Sensors can also be supported, such as for 3-axis gyro, 3-axis accelerometer, 3-axis compass, ambient light sensors, and more.

Battery, Wi-Fi and Other Radio Capabilities

Supported batteries cover a range from 3,000mAh to 8000mAh. Quick charging with an indicator, DC5V support, and USB charging are integrated. For Internet and other connectivity, the ATM7059 provides dual-band Wi-Fi support for a / b / g / n. GPS, GLONASS and Beidou. Bluetooth standards capabilities are 2.1+EDR, 3.0 and 4.1.

Pricing and Availability

Actions Semiconductor's ATM7059 is in the process of obtaining certifications from Google GMS, CE, FCC, EMC, and more. The device will be available for mass shipping worldwide by the end of November throughout Asia, the USA, Europe and more. Pricing is based on mass quantities purchased and varies by amounts.

ZHUHAI, China, September 26, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or the "Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today the final results of its previously announced "Dutch auction" tender offer for the purchase for cash up to 60,000,000 of its issued and outstanding ordinary shares (the "Shares") (including Shares represented by American Depositary Shares (the "ADSs" and together with the Shares, the "Securities")), at a purchase price not greater than $7/15 per Share (or $2.80 per ADS) nor less than $5/12 per Share (or $2.50 per ADS), which expired at 5:00 P.M., Eastern Daylight Savings time, on Thursday, September 18, 2014.

Actions Semiconductor has accepted for purchase 60,001,063 Shares (including Shares represented by ADSs) at a price of $5/12 per Share (or $2.50 per ADS), for an aggregate cost of approximately $25.0 million, excluding fees and expenses relating to the tender offer.

Based on the final tabulation by Laurel Hill Advisory Group Company, the depositary for the tender offer (the "Depositary"), a total of 192,940,159 Shares (including Shares represented by ADSs) were properly tendered and not withdrawn, of which 110,267,259 Shares (including Shares represented by ADSs) were properly tendered and not withdrawn at a price of $5/12 per Share (or $2.50 per ADS). Actions Semiconductor has been informed by the Depositary that the final proration factor is approximately 54.41%.

The Depositary will promptly issue payment for the Securities validly tendered and accepted for purchase. The Company expects such payments to be made on or about September 26, 2014. The Depositary will promptly return any validly tendered Securities that are not purchased pursuant to the tender offer to the tendering holders.

ZHUHAI, China, September 19, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or the "Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today the preliminary results of its previously announced "Dutch auction" tender offer for the purchase for cash up to 60,000,000 of its issued and outstanding ordinary shares (the "Shares") (including Shares represented by American Depositary Shares (the "ADSs", together with the Shares, the "Securities")), at a purchase price not greater than $7/15 per Share (or $2.80 per ADS) nor less than $5/12 per Share (or $2.50 per ADS), which expired at 5:00 P.M., Eastern Daylight Savings time, on Thursday, September 18, 2014.

Based on the preliminary count by Laurel Hill Advisory Group Company, the depositary for the tender offer, a total of 192,962,779 Shares (including Shares represented by ADSs) were properly tendered and not properly withdrawn, including 1,986,606 Shares (including Shares represented by ADSs) were tendered pursuant to notice of guaranteed delivery procedures and 3,100,764 Shares (including Shares represented by ADSs) were conditionally tendered by Security holders and for which the determination whether the applicable conditions were met will be made following the verification process described below.

In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, Actions Semiconductor expects to accept for purchase 60,000,000 Shares (including Shares represented by ADSs) at a purchase price of $5/12 per Share (or $2.50 per ADS), for an aggregate cost of approximately $25.0 million, excluding fees and expenses relating to the tender offer.

The 60,000,000 Shares (including Shares represented by ADSs) expected to be purchased in the tender offer represent approximately 14.5 percent of Actions Semiconductor's currently issued and outstanding Shares (including Shares represented by ADSs). Based on these preliminary numbers, Actions Semiconductor anticipates that, following settlement of the tender offer, it will have approximately 354,975,246 Shares (including Shares represented by ADSs) issued and outstanding.

Due to the oversubscription of the tender offer, Actions Semiconductor expects that the number of Shares (including Shares represented by ADSs) that the Company will purchase from each tendering holder of Shares and/or ADSs will be prorated. Based on the preliminary count, Actions Semiconductor estimates that the proration factor will be approximately 54.4 percent, assuming all the Securities tendered pursuant to guaranteed delivery procedures are properly delivered and the conditions for all conditional tenders are met.

Second Quarter 2014 Financial Results

• Revenue for the second quarter of 2014 was $12.0 million, as compared to revenue of $11.3 million for the first quarter of 2014, and $18.5 million for the second quarter of 2013.
• Net loss attributable to Actions Semiconductor's shareholders for the second quarter of 2014 was $3.5 million or $0.050 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $5.5 million or $0.080 per basic and diluted ADS, for the first quarter of 2014, and net income attributable to Actions Semiconductor's shareholders of $0.7 million or $0.010 per basic and diluted ADS, for the second quarter of 2013.

"Our second quarter performance reflects unfavorable dynamics in the worldwide tablet market. Overall growth in the tablet market has slowed much more quickly than anticipated and competition has become fiercer, with formidable players rapidly carving market shares in the white box tablet market and putting downward pressure on selling prices. The combination of soft sales and an inventory write-down which reduced gross margin by over 7% contributed to our loss for the quarter," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"We expect shipments to improve in the second half of the year, although conditions in the tablet market will remain difficult. We are now anticipating revenue in the second half of 2014 to be slightly below year ago levels with continued pressure on margin. Looking ahead, our recent investments in research and development put us in a strong position to take advantage of the industry-wide transition from 32-bit to 64-bit architecture at an early stage. We expect our future product enabled by 28nm process technology and 64-bit CPU for tablets and high-end OTT set-top boxes, along with our upcoming RF and audio processing integrated single chip SoC for Bluetooth boomboxes, will be key revenue drivers in the year ahead. We also plan to tailor our new 64-bit product for use in chrome books, an area which we believe holds additional growth potential."

"We are in the process of reorganizing our corporate structure, which will put us in a better position to monetize the vast intellectual property portfolio we have developed over the years, including entering into additional licensing contracts and joint venture agreements, provide greater clarity among our legal entities and give us an edge in the constant battle for engineering and management talent in China," Dr. Zhou concluded.

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.

Based on current market trends, the Company expects revenue in the third quarter of 2014 to be in the range of $13.0 to $15.0 million. The Company expects shipments to improve in the second half of 2014, although persistent, fierce competition in the tablet market will cause revenue in the second half of the year to be slightly below year ago levels.

ZHUHAI, China, August 15, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, announced today that it expects to commence a "Dutch auction" tender offer in August 2014 to purchase for cash up to 60,000,000 of its issued and outstanding ordinary shares, which represents, as of August 10, 2014, approximately 14.6% of Actions Semiconductor's outstanding ordinary shares, $0.000001 par value per share (the "Shares") (including Shares represented by American Depositary Shares (the "ADSs")), at a purchase price not greater than $7/15 per Share (or $2.80 per ADS) nor less than $5/12 per Share (or $2.50 per ADS). Under the proposed terms of the tender offer, the Company will invite holders of Shares and ADSs (together, the "Securities") to tender their Securities at prices specified by such holders within such range of prices that will be described further in the offer materials. The Company will select the lowest single per Share purchase price or per ADS purchase price, as applicable, that will allow it to buy up to 60,000,000 issued and outstanding Shares (including Shares represented by ADSs) at completion of the tender offer. The Company has indicated, however, that there is no guarantee that it will proceed with the tender offer or that Shares or ADSs tendered will be purchased. The tender offer will be subject to the terms and conditions described in the offer to purchase and the related materials that will be distributed to holders of the Securities and filed with the Securities and Exchange Commission (the "SEC") on or around August 20, 2014.

Mr. David Lee, Chairman of the Company, noted that, "After reviewing our cash position, business operations, future outlook, acquisition strategy, existing and anticipated capital structure and a variety of alternatives for using our available financial resources, our board of directors has determined that a tender offer is a prudent use of our available cash and an effective means of providing value to the holders of our Securities. By conducting the tender offer, we believe we can provide all the holders of our Securities with the opportunity to tender all or a portion of their Securities and to receive a return of some or all of their investment."

Neither Actions Semiconductor, its board of directors, dealer managers nor the information agent is making any recommendation to holders of the Securities as to whether to tender or refrain from tendering their Securities or as to the purchase price on any tender. Actions Semiconductor has been advised that none of its directors or executive officers intends to tender any Securities pursuant to the offer. The information agent for the tender offer will be Laurel Hill Advisory Group, LLC and the depositary for the tender offer will be Laurel Hill Advisory Group Company. Laurel Hill Securities, LLC and Imperial Capital, LLC will act as the dealer managers for this tender offer.

ZHUHAI, China, August 15, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, is today providing an operational update and details of initiatives approved by its board of directors.

Dear Shareholders,

I am pleased to provide an update on certain initiatives we are taking. Some have needed and received approval by our board of directors. In the interest of providing further transparency, we are furnishing this letter to our shareholders as a press release and on Form 6-K with the SEC and have made it available on our website.

Our Headway from PMP to the Tablet Business

Actions has had significant success in the portable media player (PMP) market, where we established ourselves as the major provider of an integrated system-on-a-chip (SoC) solution platform. That platform became the foundation of an ecosystem that encompasses over one thousand third-party application developers, value-added distributors, system integrators and brand name manufacturers in China. We succeeded by utilizing a low margin sales strategy that rapidly established a significant market share and attracted a growing number of developers to our ecosystem. Like many of the markets we target, success breeds success. If you have the leading system in the field, then third party developers find the highest return on their time from developing applications for your system rather than rival systems. Our dominant position also allowed us to better tailor our R&D efforts to meet the evolving needs of our customers. In this way, as our existing products began to experience lower selling prices, we launched newer, more advanced products at higher initial prices and margin to offset the decline in selling prices from the previous generation products brought about by the intense competition that exists in this and many of the world's chip markets.

After seeing strong potential in the rapidly growing tablet market, we entered the tablet business by employing a similar low margin sales strategy to the one we employed in the PMP market. Once again this strategy has brought meaningful success in establishing our platform. Today, the tablet business accounts for the significant portion of our total revenues. However, due to intense competition and newly announced entrants in this market, we have not been able to increase our margins as quickly as we would like. Although the tablet market experienced rapid growth in 2012 and 2013, competition among industry players along the supply chain has kept prices low. To put this in perspective, we are seeing locally-branded 7-inch tablets in China retailing below US$50. Just as with the PMP market, in order for us to maintain or increase our market share, we have to call on all of our internal R&D resources and potentially enter into strategic alliances to expand our sales channels, gain additional technical know-how and license our technologies to more developers in order to foster the continuing adoption of our platform. Accordingly, we are undertaking a number of initiatives that we expect to keep us in the leading group of tablet chip developers.

Restructuring Our Subsidiaries

During the past few years, we have established several sales and research centers throughout greater China. Our primary concern was to locate our manufacturing and research centers in close proximity to engineering talent and our sales centers near our customers. As our business expanded from PMPs into tablets, this group structure has become increasingly complicated. As a result, we have decided to streamline our corporate structure both in terms of reporting lines and re-designated several sales and research entities under our principal operating entity, Actions (Zhuhai) Technology Co., Limited ("Actions Technology").

The real results we hope for are more clarity of structure among our legal entities and success in the constant competition for engineering and management talent. We believe a more streamlined reporting line will provide our engineers with greater clarity of their goals and responsibilities as well as foster a more collaborative environment for engineers in different departments. As competition for talent increases, our engineers have also requested that their equity incentive plans reflect the performance of their individual departments and projects that they have worked on. Our new corporate structure will allow our management to keep better track of team and individual performance and issue incentives accordingly.

To view a diagram of our group structure after the restructuring, please refer to the Form 6-K furnished to the SEC today.

Potential Strategic Alliances

We expect an additional effect of our unified corporate structure to be better management access to our product development and intellectual property portfolio assets, which, in turn, could also allow us to explore opportunities in packaged license deals, joint ventures and various forms of strategic alliances with other industry players. We note that joint research and development programs, cross holding of shares and board appointments have always been a development strategy among high-tech companies, including the recent collaboration between Intel and our competitor, Rockchip. While we are not entertaining a horizontal merger with a direct competitor at this time, our management has been tasked to seek potential strategic alliance partners along the supply chain that will help us expand our sales channels, enhance our technology base and create a larger ecosystem around our platform. Earlier today, we formally established a special committee, comprising solely of independent directors, to monitor and evaluate such options and proposals. Our new group structure that better reflects the purposes and functions of each subsidiary can also facilitate the formation of strategic alliances in the future.

Corporate Structure Options

We take our duty to maximize shareholder value seriously and are exploring a number of options to accomplish our strategic goals. One option involves dual listing on an Asian stock exchange, where the investors are more familiar with our market power in the PMP and tablet sectors and could give us a better valuation. Another option involves the listing of our subsidiaries, such as Actions Technology, in Asia, which could in turn increase the valuation of our ADSs listed in the US. We believe an equity incentive plan for Actions Technology will be necessary, as our employees will see their equity incentives tied to a subsidiary whose performance can more closely track their contributions and whose value is determined in an equity market with which they are familiar. While our management and directors have no current plan for a dual listing or to list any of our subsidiaries, and there are substantial legal obstacles to overcome, our special committee will actively evaluate listing options for us and our subsidiaries. Earlier today, our compensation committee approved the establishment of an option plan based on awarding the shares of Actions Technology to our employees. This option plan envisions awarding our employees up to 15% of the equity of Actions Technology over the next five years.

Capital Structure Options

As many of you know, optimizing our capital structure is an ongoing task of management and something about which I wrote in a recent comment letter. We always have the option to repurchase additional shares if we consider our cash position exceeds our foreseeable needs. At our 2014 annual general meeting, our shareholders approved a future repurchase program. On May 6, 2014, we increased our stock repurchase program from 30 million ADSs to 50 million ADSs. As of June 30, 2014, approximately 23.2 million ADSs have been repurchased under our current share buyback program. Concurrent with this press announcement, we are also formally announcing a self tender program. Please see our press release titled "Actions Semiconductor Announces Intention to Conduct Dutch Auction Tender Offer for Its Ordinary Shares (including Ordinary Shares represented by American Depositary Shares)" for the conditions and details of the self tender.

In closing, I along with the rest of the board and management continue to be mindful of the business challenges we face and are determined to enhance our competitive position, improve our financial performance and maximize value for our shareholders. We remain confident in China's future, and expect continued, rapid economic growth. Our management team, along with our highly talented staff in China, will continue to create next generation products to meet the ever changing needs of the domestic and global markets.

Sincerely,

Mr. Hsiang-Wei Lee
Chairman of the Board
Actions Semiconductor Co., Ltd.

ZHUHAI, China, Aug. 15, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, is today providing an operational update and details of initiatives approved by its board of directors.

Dear Shareholders,

I am pleased to provide an update on certain initiatives we are taking. Some have needed and received approval by our board of directors. In the interest of providing further transparency, we are furnishing this letter to our shareholders as a press release and on Form 6-K with the SEC and have made it available on our website.

Our Headway from PMP to the Tablet Business

Actions has had significant success in the portable media player (PMP) market, where we established ourselves as the major provider of an integrated system-on-a-chip (SoC) solution platform. That platform became the foundation of an ecosystem that encompasses over one thousand third-party application developers, value-added distributors, system integrators and brand name manufacturers in China. We succeeded by utilizing a low margin sales strategy that rapidly established a significant market share and attracted a growing number of developers to our ecosystem. Like many of the markets we target, success breeds success. If you have the leading system in the field, then third party developers find the highest return on their time from developing applications for your system rather than rival systems. Our dominant position also allowed us to better tailor our R&D efforts to meet the evolving needs of our customers. In this way, as our existing products began to experience lower selling prices, we launched newer, more advanced products at higher initial prices and margin to offset the decline in selling prices from the previous generation products brought about by the intense competition that exists in this and many of the world's chip markets.

After seeing strong potential in the rapidly growing tablet market, we entered the tablet business by employing a similar low margin sales strategy to the one we employed in the PMP market. Once again this strategy has brought meaningful success in establishing our platform. Today, the tablet business accounts for the significant portion of our total revenues. However, due to intense competition and newly announced entrants in this market, we have not been able to increase our margins as quickly as we would like. Although the tablet market experienced rapid growth in 2012 and 2013, competition among industry players along the supply chain has kept prices low. To put this in perspective, we are seeing locally-branded 7-inch tablets in China retailing belowUS$50. Just as with the PMP market, in order for us to maintain or increase our market share, we have to call on all of our internal R&D resources and potentially enter into strategic alliances to expand our sales channels, gain additional technical know-how and license our technologies to more developers in order to foster the continuing adoption of our platform. Accordingly, we are undertaking a number of initiatives that we expect to keep us in the leading group of tablet chip developers.

Restructuring Our Subsidiaries

During the past few years, we have established several sales and research centers throughout greater China. Our primary concern was to locate our manufacturing and research centers in close proximity to engineering talent and our sales centers near our customers. As our business expanded from PMPs into tablets, this group structure has become increasingly complicated. As a result, we have decided to streamline our corporate structure both in terms of reporting lines and re-designated several sales and research entities under our principal operating entity, Actions (Zhuhai) Technology Co., Limited ("Actions Technology").

The real results we hope for are more clarity of structure among our legal entities and success in the constant competition for engineering and management talent. We believe a more streamlined reporting line will provide our engineers with greater clarity of their goals and responsibilities as well as foster a more collaborative environment for engineers in different departments. As competition for talent increases, our engineers have also requested that their equity incentive plans reflect the performance of their individual departments and projects that they have worked on. Our new corporate structure will allow our management to keep better track of team and individual performance and issue incentives accordingly.

To view a diagram of our group structure after the restructuring, please refer to the Form 6-K furnished to the SEC today.

Potential Strategic Alliances

We expect an additional effect of our unified corporate structure to be better management access to our product development and intellectual property portfolio assets, which, in turn, could also allow us to explore opportunities in packaged license deals, joint ventures and various forms of strategic alliances with other industry players. We note that joint research and development programs, cross holding of shares and board appointments have always been a development strategy among high-tech companies, including the recent collaboration between Intel and our competitor, Rockchip. While we are not entertaining a horizontal merger with a direct competitor at this time, our management has been tasked to seek potential strategic alliance partners along the supply chain that will help us expand our sales channels, enhance our technology base and create a larger ecosystem around our platform. Earlier today, we formally established a special committee, comprising solely of independent directors, to monitor and evaluate such options and proposals. Our new group structure that better reflects the purposes and functions of each subsidiary can also facilitate the formation of strategic alliances in the future.

Corporate Structure Options

We take our duty to maximize shareholder value seriously and are exploring a number of options to accomplish our strategic goals. One option involves dual listing on an Asian stock exchange, where the investors are more familiar with our market power in the PMP and tablet sectors and could give us a better valuation. Another option involves the listing of our subsidiaries, such as Actions Technology, in Asia, which could in turn increase the valuation of our ADSs listed in the US. We believe an equity incentive plan for Actions Technology will be necessary, as our employees will see their equity incentives tied to a subsidiary whose performance can more closely track their contributions and whose value is determined in an equity market with which they are familiar. While our management and directors have no current plan for a dual listing or to list any of our subsidiaries, and there are substantial legal obstacles to overcome, our special committee will actively evaluate listing options for us and our subsidiaries. Earlier today, our compensation committee approved the establishment of an option plan based on awarding the shares of Actions Technology to our employees. This option plan envisions awarding our employees up to 15% of the equity of Actions Technology over the next five years.

Capital Structure Options

As many of you know, optimizing our capital structure is an ongoing task of management and something about which I wrote in a recent comment letter. We always have the option to repurchase additional shares if we consider our cash position exceeds our foreseeable needs. At our 2014 annual general meeting, our shareholders approved a future repurchase program. On May 6, 2014, we increased our stock repurchase program from 30 million ADSs to 50 million ADSs. As of June 30, 2014, approximately 23.2 million ADSs have been repurchased under our current share buyback program. Concurrent with this press announcement, we are also formally announcing a self tender program. Please see our press release titled "Actions Semiconductor Announces Intention to Conduct Dutch Auction Tender Offer for Its Ordinary Shares (including Ordinary Shares represented by American Depositary Shares)" for the conditions and details of the self tender.

In closing, I along with the rest of the board and management continue to be mindful of the business challenges we face and are determined to enhance our competitive position, improve our financial performance and maximize value for our shareholders. We remain confident in China's future, and expect continued, rapid economic growth. Our management team, along with our highly talented staff in China, will continue to create next generation products to meet the ever changing needs of the domestic and global markets.

Sincerely,

Mr. Hsiang-Wei Lee
Chairman of the Board
Actions Semiconductor Co., Ltd.

ZHUHAI, China, July 8, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile Internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced that it is lowering its revenue guidance for the second quarter of 2014 based on the Company's preliminary review of its anticipated financial performance.

For the second quarter of 2014, Actions expects to report revenue of approximately $12.0 million. The Company's previous guidance for the second quarter of 2014 was for revenue in the range of $15.0 to $17.0 million. The lower revenue guidance was primarily the result of soft overall demand from whitebox tablet manufacturers along with fierce competition from new, major players entering the whitebox tablet market.

"While our second quarter revenue came in below expectations, we expect shipments to improve in the second half of the year as customers in North America and Europe begin gearing up for their peak season starting in the third quarter. The overall tablet SoC market has slowed considerably, and we expect our 2014 results to reflect this. However, we are optimistic about the coming year and the potential for our future new product enabled by 28nm process technology and 64-bit CPU to attract both branded and whitebox tablet and OTT set top box manufacturers when it is introduced later this year," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

Additional information for the second quarter will be available when Actions reports its quarterly results in August 2014. The Company will issue a press release announcing the details of its second quarter conference call closer to the date.

ZHUHAI, China and CAMBRIDGE, England, June 27, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies, and ARM (NASDAQ: ARMH), the world's leading semiconductor intellectual property (IP) supplier, have signed a license agreement for the 64-bit ARM^® Cortex^®-A50 processor family. Actions Semiconductor's first SoC is due to be available in late 2014, making it one of China's leading technology design companies delivering an ARM-based 64-bit chip for tablet devices.

Actions provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics. With this IP license, Actions will develop 64-bit SoC solutions targeting the tablet and over-the-counter (OTT) set top box markets.

"We are pleased to extend our relationship with ARM by licensing the Cortex-A50 processor family," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "We believe this investment in 64-bit architecture reinforces our position as one of the leading design houses in China providing leading-edge, high performance products at attractive price points. With the mobile industry rapidly migrating from 32-bit to 64-bit operating systems, we expect our next generation SoCs utilizing this IP will allow us to compete more effectively in both the branded and whitebox segments of the tablet and OTT set top box markets."

"Premium smartphones and tablets have become primary computing devices and that is driving strong demand for 64-bit solutions," said Allen Wu, president, ARM Greater China. "Actions Semiconductor is a valued partner and we believe the combination of its expertise in low power SoC development with the ARM Cortex-A50 processor family and ARM POP IP is an exciting way of fulfilling this requirement."

First Quarter 2014 Financial Results

• Revenue for the first quarter of 2014 was $11.3 million, as compared to revenue of $17.6 million for the fourth quarter of 2013, and $16.4 million for the first quarter of 2013.
• Net loss attributable to Actions Semiconductor's shareholders for the first quarter of 2014 was $5.5 million or $0.080 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $0.8 million or $0.012 per basic and diluted ADS, for the fourth quarter of 2013, and net income attributable to Actions Semiconductor's shareholders of $0.4 million or $0.006 per basic and diluted ADS, for the first quarter of 2013.

"In the first quarter of 2014, the whitebox tablet market experienced soft demand, primarily due to the buildup of inventory by tablet manufacturers in late 2013 in advance of the Chinese New Year holiday. Combined with more intense competition in the whitebox tablet market following the entry of two large players and typical seasonality related to the Chinese New Year holiday, revenue came in below our expectations. Meanwhile, our bottom line was impacted by our ongoing aggressive pricing strategy, an unanticipated inventory write-down which reduced gross margin by about 4% and a $2.5 million unrealized, non-cash foreign exchange loss associated with the rapid depreciation of the Chinese RMB against the U.S. dollar," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"Although more intense competition and other dynamics in the whitebox tablet market are expected to impact our near term performance, we believe the tablet market still holds the strongest growth potential for Actions. We expect growth in shipments of our OWL Series product family for tablets in the remainder of the year. We also anticipate good traction from our new quad-core solution for Over-the-top (OTT) set top boxes with advanced multimedia features and Bluetooth 4.0 dual-mode boombox solutions."

"In terms of our corporate development, we have initiated a reorganization of our group structure which will put us in a better position to monetize the vast intellectual property portfolio we have developed over the years, including entering into additional licensing contracts and joint venture agreements. We are also mindful of the intense competition for quality engineers in China. We will be rethinking and rolling out better incentive programs for our employees in the coming months, particularly with respect to our talented engineers," Dr. Zhou concluded.

ZHUHAI, China, April 7, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (NASDAQ: ACTS) ("Actions Semiconductor" or "the Company"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile Internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced that the Company will participate in the Hong Kong Electronics Fair ("the Fair") held from April 13 to April 16 at the Hong Kong Convention and Exhibition Center in Hong Kong.

Actions plans to host a booth (booth No. 1CON-004) at the Fair to showcase its latest products and solutions designed for tablets, cloud connected devices and multimedia devices, including its OWL Series product family for Tablets, quad-core solution for OTT TV boxes with advanced multimedia features, as well as Bluetooth 4.0 and Wifi boomboxes. The Company will also showcase a new line of products based on its high-performance ATM7039 quad-core SoC for Smart Monitors, POS (point-of-sale) machines, Digital Signage and Thin client applications. Mr. Robert Wang, Vice President of Sales and Marketing of Actions Semiconductor, will lead the Company's sales and marketing team to meet existing and potential customers on site at the Fair.

"We are excited about the opportunity to present a wide array of solutions for tablets, cloud connectivity enabled products and other multimedia applications at the Hong Kong Electronics Fair," Mr. Wang said. "This signature industry event draws the attention and attendance of thousands of manufacturers and buyers from China and worldwide. We believe the quality and performance of our products will appeal to new and existing customers seeking to enhance their products with cost-effective, turnkey solutions utilizing the latest technology."

ZHUHAI, China and BARCELONA, Spain, Feb. 24, 2014 /PRNewswire/ -- Imagination Technologies (IMG.L) and Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies, are extending their collaboration in bringing advanced graphics to a range of Actions' OWL chipsets which are designed to address each segment of the tablet market. Actions is leveraging Imagination's PowerVR graphics in multiple generations of its OWL chipsets, including ATM7021, ATM7039 and ATM7029B, and will continue to use PowerVR for future generations.

Already reaching significant volume shipments following its release six months ago, Actions' ATM7021 chipset leverages a PowerVR SGX540 GPU, and brings advanced performance and multimedia capabilities to entry-level tablets. The company's high-performance ATM7039 chipset, featuring a PowerVR SGX544MP GPU and dual channel 64-bit DDR, offers a high level of performance for high-end Android tablets.

Actions' newest quad-core solution, the ATM7029B, features a PowerVR SGX540 GPU and supports Android 4.4. Built in MIPI, the ATM7029B offers an attractive price-to-performance ratio for the mid-range market. With PowerVR, Actions is using the industry's leading graphics processors that enable a powerful and flexible solution for all forms of multimedia processing. APIs such as OpenGL ES, OpenCL, RenderScript and FilterScript enable developers to unlock the enormous processing potential of both OpenGL ES graphics and GPU compute delivered by PowerVR IP cores.

Says Dr. Zhenyu Zhou, CEO, Actions Semiconductor, "We are winning significant new business for our innovative and cost-effective tablet chipsets with PowerVR based solutions. By partnering with Imagination Technologies to integrate their highly efficient, world-class PowerVR GPU cores in our OWL Series product family, we offer feature-rich solutions for each segment of the tablet market. We're pleased with the superior technological capability of PowerVR, as well as the great support we receive from Imagination."

Says David McBrien, executive vice president of sales and business development, Imagination, "We believe that leadership in graphics leads to leadership in end products. With high performance, low power consumption, small area and a broad developer base, PowerVR GPUs lead the market for embedded and mobile graphics. We are delighted that an innovative company like Actions is gaining increasing traction in the market with its PowerVR based solutions, and we are working closely with them to ensure they have access to the latest technologies to drive advanced graphics performance."

In its booth number 6E30 at Mobile World Congress, Imagination will feature tablets with Actions' latest PowerVR based chipsets, including the Ramos K6 and Ainol Spark II tablets. Mobile World Congress is being held February 24-28 in Barcelona, Spain.

Fourth Quarter 2013 Financial Results

• Revenue for the fourth quarter of 2013 was $17.6 million, as compared to revenue of $16.9 million for the third quarter of 2013, and $15.2 million for the fourth quarter of 2012.
• Net loss attributable to Actions Semiconductor's shareholders for the fourth quarter of 2013 was $0.8 million or $0.012 per basic and diluted American Depositary Share ("ADS"). This compares to net loss attributable to Actions Semiconductor's shareholders of $0.2 million or $0.002 per basic and diluted ADS, for the third quarter of 2013, and a net loss attributable to Actions Semiconductor's shareholders of $1.7 million or $0.024 per basic and diluted ADS, for the fourth quarter of 2012.

"The year of 2013 was a critical one for our Company. We achieved top line growth of 28%, above our 25% target, and improved our bottom line. Following the successful introduction of our OWL series product family, we have made good progress in penetrating the white-box tablet market and carving market share. We are also excited about the new growth opportunity brought by wireless connectivity to our traditional multimedia business. During the fourth quarter, our second generation dual-core solution, ATM7021, made further inroads in the low-end of the tablet market and our new Bluetooth enabled boombox solutions reached volume shipments," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"As we enter 2014, we are targeting full year revenue growth between 20% and 25%. We believe our OWL series product family provides us with the opportunity to gain share in each segment of the tablet market in 2014, as tablet manufacturers continue migrating to dual-core chipsets for their low-end products and accelerate the use of quad-core solutions for their mid- to high-end models. At the same time, we expect our newer wireless connectivity enabled multimedia products such as our Bluetooth boombox solutions to make a meaningful contribution to our revenue."

"We believe, as one of the leading design houses in China, our profitability is directly linked to our ability to maintain technology leadership and provide compelling products at each targeted market segment. In 2014, we will streamline our research and development organization while investing in intellectual property and talent as we seek to enhance our brand image for both multimedia and tablet products," Dr. Zhou concluded.

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.

Based on current market trends, the Company expects revenue in the first quarter of 2014 to be in the range of $12.0 to $13.0 million. This reflects the return to a more traditional seasonal sales pattern compared to the same period last year, when the Company experienced a steep ramp in shipments associated with the introduction of its new tablet SoC solutions.

The first quarter of the year is traditionally the Company's seasonally slowest quarter due to the Chinese New Year holiday, which causes a slowdown in production by consumer electronics manufacturers in China for approximately three to four weeks.

ZHUHAI, China and MOUNTAIN VIEW, Calif., January 6, 2014 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) ("Actions Semiconductor"), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, and CEVA, Inc.(NASDAQ:CEVA), the leading licensor of silicon intellectual property (SIP) platform solutions and DSP cores, today announced that Actions has licensed the CEVA-TeakLite-4 DSP and CEVA-Bluetooth 4.0 Low Energy IP.

"We are constantly seeking to enhance our products with the latest technology and provide our customers with high performance turnkey solutions at attractive price points and a better user experience," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "Partnering with CEVA allows us to leverage their industry-leading audio DSP and Bluetooth IP in our next-generation audio SoC designs that integrate multimedia functionality and wireless connectivity."

"We are pleased that Actions Semiconductor, one of China's leaders in portable consumer electronics SoCs, is adopting their advanced audio processing around our CEVA-TeakLite family of DSPs," said Gideon Wertheizer, CEO of CEVA. "We believe our solutions will offer Actions significant time-to-market savings for their next-generation products and enable efficient design reuse across their range of consumer SoCs."

The fully programmable CEVA-TeakLite-4 DSP was specifically designed to address the increasingly complex processing and stringent low power requirements of advanced audio and voice algorithms. The CEVA-TeakLite-4's orthogonal architecture, audio-specific instruction set and advanced power management support provides Actions with a platform with which to implement ultra-low power audio capabilities. The CEVA-Bluetooth 4.0 Low Energy IP provides Actions with a cost-effective Bluetooth platform designed with flexibility, portability and configurability in mind, and is ideal for integration into a wide range of embedded applications.

Third Quarter 2013 Financial Results

• Revenue for the third quarter of 2013 was$16.9 million, as compared to revenue of$18.5 millionfor the second quarter of 2013, and$15.8 millionfor the third quarter of 2012.
• Net loss attributable to Actions Semiconductor's shareholders for the third quarter of 2013 was $0.2 million or $0.002 per basic and diluted American Depositary Share ("ADS"). This compares to net income attributable to Actions Semiconductor's shareholders of$0.7 million or $0.01 per basic and diluted ADS, for the second quarter of 2013, and net income attributable to Actions Semiconductor's shareholders of $0.7 million or $0.01 per basic ADS and $0.009 per diluted ADS, for the third quarter of 2012.

"Our third quarter results were impacted by lower than expected overall demand for white-box tablets, significant DRAM price increases and slower than anticipated adoption of quad-core solutions in overseas markets, resulting in a sequential decline in revenue and a net loss for the quarter," stated Dr.Zhenyu Zhou, CEO of Actions Semiconductor.

"Although overall adoption of quad-core solutions has been slower than originally anticipated in overseas markets, we believe this only a temporary delay due to issues such as higher DRAM prices and are confident the migration from dual-core to quad-core chipsets will dominate the mid to high end of the tablet market in 2014. In the meantime, our dual-core ATM7021 solution is rapidly gaining traction in the low end of the market at the expense of single-core CPU based SoC. In our traditional portable audio and portable video multimedia business, we saw a sequential increase in shipments of audio products and our extended line of high definition video products inspired by our high definition portable media player continued to make a large contribution to our revenue mix."

"With the recent introduction of our new high performance quad-core ATM7039 chipset, we have completed the OWL series product family as planned. We are now armed with a complete product portfolio targeting the full spectrum of the tablet market from low to high end. We will continue to develop new solutions to meet the needs of the whitebox tablet market along with differentiated traditional portable audio and portable video multimedia products to diversify our revenue stream. We are on track to achieve our revenue growth target of at least 25% for the full year 2013 and expect to further penetrate the mobile Internet enabled multimedia market in 2014 and beyond."

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.

Based on current market trends, the company expects revenue in the fourth quarter of 2013 to be higher than the third quarter of 2013, which is contrary to the company's historical seasonal sales pattern.

For the fourth quarter of fiscal year 2013 ending December 31, 2013, Actions Semiconductor estimates revenue in the range of $17.0 to $19.0 million.

ZHUHAI, China, Sept. 20, 2013 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, todaylowering its revenue guidance for the third quarter of 2013  announced that it is based on the Company's preliminary review of its anticipated financial performance.    

For the third quarter of 2013, Actions expects to report revenue of approximately $17.0 million and gross margin of approximately 34%. The company's previous guidance for the third quarter of 2013 was for revenue in the range of $19.0 to $21.0 million and gross margin of approximately 34%. The lower revenue guidance was primarily due to overall demand for white-box tablets below market expectations and slower than anticipated adoption of quad-core solutions in emerging markets.   

"Although our third quarter revenue is lower than anticipated, we are excited about the opportunities in emerging markets for our recently introduced dual-core ATM7021 chipset to rapidly gain share at the expense of single-core CPU based SoC. With its powerful, world class GPU and attractive price to performance ratio, we expect ATM7021 to make a meaningful contribution to revenue beginning in the fourth quarter of 2013," said Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

Additional information for the third quarter will be available when Actions reports its quarterly results in November 2013. The Company will issue a press release announcing the details of its third quarter conference call closer to the date.

ZHUHAI, China, Aug. 13, 2013 /PRNewswire/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, today announced the introduction of its new ATM7021 chipset.

Actions' ATM7021 chipset is the second generation dual-core product which supports the Android^TM 4.2.2 Jelly Bean operating system.  With the ARM� Cortex^TM dual-core CPU and powerful, world-class PowerVR GPU core from Imagination Technologies, the built-in full spec 1080p video encode and decode engine and 1080p HDMI Tx  integration, ATM7021 brings advanced performance and multimedia capabilities to entry level tablets.  Also, the unique LPD Gen. II architecture in ATM7021 provides for longer battery life.

"Actions Semiconductor is pleased to announce the new ATM7021 chipset, our second generation dual-core product.  Our product roadmap for the OWL chipset family addresses the needs of each segment of the tablet market, and this latest addition further expands our market position in the mobile Internet enabled multimedia segment," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor. 

"We expect dual-core SoC to dominate the entry level whitebox tablet market in the near future, and ATM7021 offers a powerful, world class GPU at a very compelling price point.  We are excited about the opportunities for ATM7021 to rapidly gain share at the expense of single-core CPU based SoC, and expect it to make a meaningful contribution to revenue once sales ramp up in the fourth quarter of this year," concluded Dr. Zhou.

• Revenue for the second quarter of 2013 was $18.5 million, as compared to revenue of $16.4 million for the first quarter of 2013, and $12.6 million for the second quarter of 2012.
• Net income attributable to Actions Semiconductor's shareholders for the second quarter of 2013 was $0.7 million or $0.01 per American Depositary Shares ("ADS"). This compares to net income attributable to Actions Semiconductor's shareholders of $0.4 million or $0.006 per ADS, for the first quarter of 2013, and net loss attributable to Actions Semiconductor's shareholders of $0.6 million or $0.008 per ADS, for the second quarter of 2012.
• Gross margin of 32.2% for the second quarter of 2013, compared to gross margin of 36.2% for the first quarter of 2013, and 37.0% for the second quarter of 2012. Included in gross margin for the second quarter of 2013 was a $0.6 million write down of obsolete inventory representing 3.1% of revenue. The Company ended the second quarter with $220.3 million in cash and cash equivalents, together with time deposits, trading securities and marketable securities.

"Our second quarter revenue was inline with our expectations, driven by strong sales of our OWL series of chipsets supported by the launch of our new dual-core ATM7023 chipset in April of this year. We also saw a sequential increase in shipments from our traditional portable audio products and sales growth from our newer products such as our extended line of high definition video products inspired by our high definition portable media player," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.

"We are aggressively building share in the whitebox tablet market, and expect further penetration once we roll out our second generation lower cost series of dual-core chipsets and high performance series of quad-core chipsets utilizing more powerful CPU and GPU cores and more advanced process nodes over the next few months. At that point, we will have a complete product portfolio that addresses each segment of the whitebox tablet market, from entry level to high end.

"We maintained our leading market position in the traditional portable audio and portable video multimedia business, and are developing new feature rich and differentiated products in those categories. These initiatives, combined with careful cost control and cash management, will move us forward on the path to operational profitability in the future," 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.

Based on current market trends, the peak season for tablets, consumer electronics and portable media players is expected to begin a month later than usual. Therefore, the company expects revenue in the fourth quarter of 2013 to be higher than the third quarter of 2013, which is contrary to the company's historical seasonal sales pattern.

For the third quarter of fiscal year 2013 ending September 30, 2013, Actions Semiconductor estimates revenue in the range of$19.0 to $21.0 million and gross margin of approximately 34%.

First Quarter 2013 Financial Results 

• Revenue for the first quarter of 2013 was $16.4 million, as compared to revenue of $15.2 million for the fourth quarter of 2012, and $10.7 million for the first quarter of 2012.
• Net income attributable to Actions Semiconductor's shareholders for the first quarter of 2013 was $0.4 million or $0.01 per American Depositary Shares ("ADS").

"Our better-than-expected first quarter results were driven by sales of our first OWL series chipset," stated Dr.Zhenyu Zhou, CEO of Actions Semiconductor. "We are extremely pleased with the traction we have gained in the short time since we launched our new product family for the tablet market. Our steep sales ramp in this new product category reflects our ability to leverage our core strengths in multimedia solutions and our established channel relationships."

"We recently launched the second chipset in our OWL series, delivering advanced multimedia capabilities to entry level tablets and have plans to further expand our product offering to cover the full spectrum of the whitebox tablet market.

"While we experienced normal seasonality during the quarter, particularly across our audio product portfolio, we were pleased to see relatively healthy demand for our video products. We remain excited about the growth prospects in the whitebox tablet market and believe our product portfolio addressing this market will be a significant growth driver for the Company for the remainder of the year," 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 2013 ending June 30, 2013, Actions Semiconductor estimates revenue in the range of $18.0 to $20.0 million and gross margin of approximately 36%.

Third Quarter 2012 Results

• Revenue for the third quarter of 2012 was $15.8 million, as compared to revenue of $12.6 million for the second quarter of 2012, and $15.3 million for the third quarter of 2011.
• Net income attributable to Actions Semiconductor's shareholders for the third quarter of 2012 was $0.66 million or $0.01 per American Depositary Shares ("ADS"). This compares to a net loss attributable to Actions Semiconductor's shareholders of $0.56 million or $0.01 per ADS, for the second quarter of 2012, and net income attributable to Actions Semiconductor's shareholders of $2.6 million or $0.04 per ADS, for the third quarter of 2011.

"Our third quarter revenue was in line with expectations and we were pleased to see a sequential improvement to our bottom line," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "While, the largest portion of our revenue came from our value-oriented solutions, we are beginning to see early results from the product strategy we put in place over the past year. While we are concentrating on growing our tablet business, we continue to preserve our leading market share position in our mainstream portable audio and portable video products.

"As a result of our ongoing R&D and product innovation efforts, we recently introduced our new ATM702x product family. We are excited to be one of the first companies to provide a high performance tablet SoC beyond dual core CPU and to integrate USB 3.0 PHY into SoCs.

"As we head into the fourth quarter, we will continue to focus on further penetrating the mobile Internet enabled multimedia tablet market. We remain enthusiastic about the long-term growth opportunities in this market segment," 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 fourth quarter of fiscal year 2012 ending December 31, 2012, Actions Semiconductor estimates revenue in the range of $13.5 to $14.5 million and gross margin of approximately 37%.

Financial results for the second quarter ended June 30, 2012.

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

• Revenue for the second quarter of 2012 was $12.6 million, as compared to revenue of $10.7 million for the first quarter of 2012, and $10.5 million for the second quarter of 2011.
• Net loss attributable to Actions Semiconductor's shareholders for the second quarter of 2012 was$0.56 million or $0.01 per ADS. This compares to net loss attributable to Actions Semiconductor's shareholders of $0.65 million or $0.01 per ADS, for the first quarter of 2012, and net income attributable to Actions Semiconductor's shareholders of $0.51 million or $0.01 per ADS, for the second quarter of 2011.
• Actions Semiconductor reported gross margin of 37.0% for the second quarter of 2012, compared to gross margin of 34.9% for the first quarter of 2012, and 37.9% for the second quarter of 2011. The Company ended the second quarter with $58.9 million in cash and cash equivalents. Trading securities and marketable securities, current and non-current, were $160.0 million at the end of the second quarter.
• Since the share repurchase program commenced in 2007, the Company has invested approximately $43.9 million in repurchasing its shares. As of June 30, 2012, approximately 19.1 million American Depositary Shares (ADSs) were repurchased. The Company's Board of Directors today authorized an increase to 30 million ADSs from 20 million ADSs for the share repurchase program.

"Our second quarter results were in line with expectations and demonstrated sequential and year over year revenue growth," stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor. "Our more value-oriented solutions such as automotive products continued to comprise the largest portion of our product mix during the quarter. At the same time, we maintained a leading market share position in our mainstream portable video and portable audio products.

"As we move through the second half of the year we remain focused on leveraging our strong product portfolio to extend our leadership position in established markets, while concentrating our efforts on penetrating the mobile Internet enabled multimedia tablet market. We have been increasing shipment volumes of our recently launched tablet product and continue to expect to see 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 third quarter of fiscal year 2012 ending September 30, 2012, Actions Semiconductor estimates revenue in the range of $15.5 to $16.5 million and gross margin of approximately 37%.

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%.

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.

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.

Third Quarter 2011 Update

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.

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.

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.

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)

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:

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)

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)