Actions Semiconductor Reports Second Quarter 2014 Results

 

ACTIONS SEMICONDUCTOR CO., LTD.

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(in thousands of U.S. dollars, except number of shares and per share amounts)












Three months ended


Three months ended


Six months ended


Six months ended



June 30,


June 30,


June 30,


June 30,



2014


2013


2014


2013



  (unaudited) 


  (unaudited) 


  (unaudited) 


  (unaudited) 










Revenues:









  Third-parties:









   System-on-a-chip products


10,317


16,923


19,883


32,692

   Semiconductor product testing services


27


35


54


52



10,344


16,958


19,937


32,744

  Related-parties:









   System-on-a-chip products


1,631


1,559


3,350


2,188

  Total revenues


11,975


18,517


23,287


34,932

Cost of revenues:









  Third-parties:









   System-on-a-chip products


(8,411)


(11,446)


(15,862)


(21,509)

   Semiconductor product testing services


(9)


(13)


(27)


(18)



(8,420)


(11,459)


(15,889)


(21,527)

  Related-parties:









   System-on-a-chip products


(1,356)


(1,090)


(2,583)


(1,489)

  Total cost of revenues


(9,776)


(12,549)


(18,472)


(23,016)

Gross profit


2,199


5,968


4,815


11,916

Other operating income


150


78


629


152

Operating expenses:









  Research and development


(6,614)


(7,340)


(13,390)


(13,362)

  General and administrative


(2,787)


(2,107)


(4,824)


(4,084)

  Selling and marketing


(634)


(501)


(1,018)


(996)

Total operating expenses


(10,035)


(9,948)


(19,232)


(18,442)

Loss from operations


(7,686)


(3,902)


(13,788)


(6,374)

Other income (expenses)


7


1,150


(2,497)


1,370

Dividend income from an other investment


423


493


423


493

Interest income


2,803


2,993


5,883


6,191

Interest expense


(159)


(124)


(296)


(224)

(Loss) income before income taxes, equity in net


(4,612)


610


(10,275)


1,456

  income (loss) of equity method investees









  and non-controlling interest









Income tax credit (expense)


941


255


1,106


(98)

Equity in net income (loss) of equity method investees


204


(186)


207


(259)

Net (loss) income


(3,467)


679


(8,962)


1,099

Add: Net loss attributable to non-controlling interest


-


-


-


1

Net (loss) income attributable to Actions Semiconductor Co., Ltd.

(3,467)


679


(8,962)


1,100










Net (loss) income attributable to Actions Semiconductor Co., Ltd.








Basic (per share)


(0.008)


0.002


(0.022)


0.003

Diluted (per share)


(0.008)


0.002


(0.022)


0.003










Basic (per ADS)


(0.050)


0.010


(0.130)


0.016

Diluted (per ADS)


(0.050)


0.010


(0.130)


0.016










Weighted-average shares used in computation:









Basic


413,599,856


412,242,251


412,556,305


411,185,535

Diluted


413,599,856


427,401,804


412,556,305


424,606,224










Weighted-average ADS used in computation :









Basic


68,933,309


68,707,042


68,759,384


68,530,923

Diluted


68,933,309


71,233,634


68,759,384


70,767,704










Note: Share-based compensation recorded in each









expense classification above is as follows:









  Research and development


3


41


7


205

  General and administrative


2


16


4


69

  Selling and marketing


-


3


-


11

  Cost of revenues


-


15


-


15


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