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Components | August 13, 2012

Actions Semiconductor reports financial results

Actions Semiconductor has reported its 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.

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.

"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..

"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".

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%.

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