ZHUHAI, China, May 26, 2016 /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 reported its
financial results for the first quarter ended March 31, 2016.
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.
First Quarter 2016 Results
All financial results are reported on a U.S. GAAP basis.
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.
Actions Semiconductor reported gross profit in the first quarter
of $4.2 million, as compared with $1.3 million in
the fourth quarter of 2015 and $2.5 million in the first
quarter of 2015. Gross margin was 35.3% for the first quarter
of 2016, compared to gross margin of 11.1% for the fourth quarter
of 2015, and 23.5% for the first quarter of 2015. The first
quarter of 2016 was favorably impacted by the sale of previously
written-down inventory. Gross margin in the fourth quarter of
2015 was negatively impacted by the write-down of certain slower
moving inventory that reduced gross margin by about 9.0%.
Operating expenses in the first quarter of 2016 were $9.1
million, as compared to $9.1 million in the fourth
quarter of 2015 and $9.5 million in the first quarter of
2015.
Research and development expenses were $6.6
million for the first quarter, as compared to $6.4
million in the fourth quarter of 2015 and $6.8
million in the first quarter of 2015. The quarter-over-quarter
increase was mainly due to a slight increase in mask expenses in
current quarter.
General and administrative expenses were $2.1
million in the first quarter, as compared to $2.3
million in the fourth quarter of 2015 and $2.0
million in the first quarter of 2015.
Selling and marketing expenses were $0.5 million for
the first quarter, as compared to $0.5 million in the
fourth quarter of 2015 and $0.6
million in the first quarter of 2015.
Operating loss for the first quarter of 2016 was $4.6
million, as compared to the operating loss of $6.5
million in the fourth quarter of 2015 and the operating loss
of $7.0 million in the first quarter of 2015.
Other expense for the first quarter of 2016 was $0.1 million, as compared to other expense of
$1.3 million in the fourth quarter of
2015 and other income of $16,000 in
the first quarter of 2015. In the fourth quarter of 2015, we
recorded an unrealized, non-cash foreign exchange loss associated
with the depreciation of the Chinese RMB against the U.S.
dollar.
Interest income for the first quarter of 2016 was $1.1 million, unchanged from $1.1 million in the fourth quarter of 2015 and
down from $1.6 million in the first
quarter of 2015. The year-over-year decrease was due to lower
cash and interest bearing securities following the Dutch auction
tender offer in September 2015.
Income tax expense was $0.1
million for the first quarter of 2016, compared to an income
tax credit of $0.2 million in the
fourth quarter of 2015 and an income tax credit of $0.5 million in 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.
Financial Condition
The Company ended the first quarter of 2016 with $119.4 million in cash and cash equivalents,
together with time deposits, trading securities, marketable
securities and restricted deposits. Total current assets were
approximately $117.2 million, and the Company had
working capital of approximately $44.9
million and $61.0 million in short-term bank loans,
and total shareholder's equity was $152.2
million as of March 31, 2016.
Since the share repurchase program commenced in 2007, the
Company has invested approximately $113.4
million in repurchasing its ADSs and ordinary shares,
including $57.2 million representing
the equivalent of 24.0 million ADSs repurchased through Dutch
auction tender offers in September
2015 and 2014. As of March 31,
2016, the equivalent of approximately 49.1 million ADSs were
repurchased. As of March 31, 2016,
the total number of outstanding ordinary shares (including ordinary
shares represented by ADSs) was 265,788,736.
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 2016 to be in the range of $13.5 to $14.5 million. The semiconductor
industry as a whole has moved beyond much of the turbulence it
faced at the start of the year. Given the outlook for its
current target markets, the Company anticipates that its ability to
increase revenue will be limited for the next few quarters.
The Company sees some room for growth and will strive to increase
revenue in 2016 while managing expenses.
Receipt of a Going-Private Offer
On May 19, 2016, the Company's
Board of Directors received a preliminary, non-binding offer letter
from Mr. Niccolo Chen, its former
CEO, and certain of his affiliates, who have formed a
consortium. The letter proposed a "going-private" transaction
at the price of US$2.00 per
ADS. Upon receipt of this letter, the Board of Directors
formed a Special Committee consisting of directors independent from
the consortium and Company management to evaluate this proposal and
safeguard the interest of the Company's shareholders. The
Special Committee is authorized by the Board to evaluate or
negotiate the proposal or to consider any other strategic
alternatives as necessary or appropriate. The Special Committee has
subsequently retained U.S. and Cayman
Islands counsel and is in the process of evaluating a
suitable financial advisor. The Special Committee cautions
the Company's shareholders and others considering trading in the
Company's securities that no decision has been made on the response
to the proposal. There can be no assurance that any definitive
offer will be made, that any agreement will be executed or that
this or any other transaction will be approved or consummated. The
Special Committee does not undertake any obligation to provide any
updates with respect to this or any other transaction, except as
required under applicable law.
Conference Call Details
Actions Semiconductor's management will conduct an earnings
conference call offering prepared remarks on the first quarter of
2016, new products, business outlook and other matters.
Although the management will not be conducting a question and
answer session during the call, the Company continues to welcome
written questions and comments from its shareholders.
The teleconference and webcast is scheduled to begin at
8:00 a.m. Eastern Daylight Time, on
Thursday, May 26, 2016. To
participate in the live call, analysts and investors should dial
888-337-8169 or 719-325-2402 at 8:00 a.m.
Eastern Time on May 26, 2016.
The conference ID number is 4764224. Actions Semiconductor
will also offer a webcast of the conference call, accessible from
the "Investor Relations" section of the Company's website at
www.actions-semi.com. An audio replay of the call will be
available through June 5, 2016 by
registering at https://jsp.premiereglobal.com/webrsvp and entering
access code 4764224.
About Actions Semiconductor
Actions Semiconductor is 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. Actions Semiconductor products include SoCs,
firmware, software, solution development kits, as well as detailed
specifications of other required components. Actions Semiconductor
also provides total product and technology solutions that allow
customers to quickly introduce new portable consumer electronics to
the mass market in a cost effective way. The Company is
headquartered in Zhuhai, China,
with offices in Shanghai,
Shenzhen, Hong Kong and Taipei. For more information, please visit the
Actions Semiconductor website at http://www.actions-semi.com.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
Statements contained in this release that are not historical
facts are forward-looking statements, as that term is defined in
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include statements concerning the
outlook for the worldwide semiconductor market, the future
prospects for the Company's Bluetooth single chip 4.2 solutions,
ability to compete in the virtual reality market, customer
acceptance of the Actions Semiconductor's new products and
corresponding increases in market share, Actions Semiconductor's
belief that it is positioned to capture some upside from its new
products and Actions Semiconductor's future expectations with
respect to revenue. Actions Semiconductor uses words like
"believe," "anticipate," "intend," "estimate," "expect," "project"
and similar expressions to identify forward-looking statements,
although not all forward-looking statements contain these words.
These forward-looking statements are estimates reflecting current
assumptions, expectations and projections about future events and
involve significant risks, both known and unknown, uncertainties
and other factors that may cause Actions Semiconductor's actual
performance, financial condition or results of operations to be
materially different from those suggested by the forward-looking
statements including, among others, customers' cancellation or
modification of their orders; our failure to accurately forecast
demand for our products; the loss of, or a significant reduction in
orders from, any of our significant customers; fluctuations in our
operating results; our inability to develop and sell new products;
defects in or failures of our products; the expense and uncertainty
involved in our customer design-win efforts; the financial
viability of the distributors of our products; consumer demand;
worldwide economic and political conditions; fluctuations in our
costs to manufacture our products; our reliance on fourth parties
to manufacture, test, assemble and ship our products; our ability
to retain and attract key personnel; our ability to compete with
our competitors; and our ability to protect our intellectual
property rights and not infringe the intellectual property rights
of others. Other factors that may cause our actual results to
differ from those set forth in the forward-looking statements
contained in this press release and that may affect our prospects
in general are described in our filings with the Securities and
Exchange Commission, including our most recently filed Forms F-1,
20-F and 6-Ks. Other unknown or unpredictable factors also could
have material adverse effects on Actions Semiconductor's future
results, performance or achievements. In light of these risks,
uncertainties, assumptions and factors, the forward-looking events
discussed in this press release may not occur. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date stated, or if no date is stated, as
of the date of this press release. Except as required by law,
Actions Semiconductor undertakes no obligation and does not intend
to update or revise any forward-looking statement to reflect
subsequent events or changed assumptions or circumstances.
Investor Contacts:
Elaine Ketchmere,
CFA
|
Ally Xie, CA,
CPA
|
Compass Investor
Relations
|
Actions
Semiconductor
|
eketchmere@compass-ir.com
|
investor.relations@actions-semi.com
|
+1-310-528-3031
|
+86-756-3392353*1018
|
ACTIONS
SEMICONDUCTOR CO., LTD.
|
CONSOLIDATED
CONDENSED BALANCE SHEETS
|
(in thousands of
U.S. dollars)
|
|
|
|
|
|
|
|
At March 31,
|
|
At December 31,
|
|
At March 31,
|
|
2016
|
|
2015
|
|
2015
|
|
(unaudited)
|
|
(audited)
|
|
(unaudited)
|
ASSETS
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and
cash equivalents
|
34,667
|
|
36,262
|
|
61,855
|
Time
deposit
|
155
|
|
154
|
|
5,632
|
Restricted deposits
|
36,068
|
|
65,255
|
|
51,786
|
Marketable securities
|
21,125
|
|
13,519
|
|
43,035
|
Trading
securities
|
70
|
|
68
|
|
72
|
Accounts receivable, net of allowance for doubtful accounts of $nil, $nil, and $68
as of March 31, 2016, December 31, 2015,
and March 31, 2015, respectively
|
4,680
|
|
4,826
|
|
2,833
|
Amount
due from a related party
|
1,254
|
|
1,226
|
|
555
|
Amount
due from an equity method investee
|
22
|
|
17
|
|
48
|
Inventories, net of inventory
written-down of $3,553, $6,218, and $6,942 as of
March 31, 2016, December 31, 2015, and
March 31, 2015, respectively
|
11,952
|
|
12,076
|
|
14,978
|
Prepaid
expenses and other current assets
|
6,368
|
|
6,448
|
|
5,689
|
Income
tax recoverable
|
-
|
|
-
|
|
345
|
Deferred
tax assets
|
862
|
|
938
|
|
1,644
|
Total current
assets
|
117,223
|
|
140,789
|
|
188,472
|
|
|
|
|
|
|
Investments in equity method
investees
|
27,087
|
|
26,962
|
|
27,323
|
Other
investments
|
15,476
|
|
15,474
|
|
15,627
|
Restricted deposits
|
27,291
|
|
27,221
|
|
-
|
Rental
deposits
|
59
|
|
56
|
|
65
|
Property,
plant and equipment, net
|
27,714
|
|
27,984
|
|
29,929
|
Land use
right
|
1,412
|
|
1,417
|
|
1,505
|
Acquired
intangible assets, net
|
9,012
|
|
9,055
|
|
15,345
|
Deposit
paid for acquisition of intangible assets
|
-
|
|
-
|
|
547
|
Deferred
tax assets
|
124
|
|
193
|
|
49
|
TOTAL
ASSETS
|
225,398
|
|
249,151
|
|
278,862
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
5,450
|
|
4,243
|
|
6,633
|
Amount
due to a related party
|
155
|
|
298
|
|
162
|
Accrued
expenses and other current liabilities
|
3,750
|
|
5,040
|
|
7,148
|
Short-term bank loans
|
61,000
|
|
81,000
|
|
45,000
|
Other
liabilities
|
1,775
|
|
1,771
|
|
1,929
|
Income
tax payable
|
49
|
|
49
|
|
49
|
Deferred
tax liabilities
|
162
|
|
155
|
|
314
|
Total current
liabilities
|
72,341
|
|
92,556
|
|
61,235
|
|
|
|
|
|
|
Payable
for acquisition of intangible assets
|
197
|
|
197
|
|
155
|
Deferred
tax liabilities
|
673
|
|
715
|
|
883
|
Total
liabilities
|
73,211
|
|
93,468
|
|
62,273
|
|
|
|
|
|
|
Equity:
|
|
|
|
|
|
Ordinary
shares
|
1
|
|
1
|
|
1
|
Additional paid-in capital
|
63,564
|
|
63,426
|
|
63,051
|
Treasury
Stock
|
(103,747)
|
|
(103,736)
|
|
(70,964)
|
Accumulated other comprehensive
income
|
32,181
|
|
31,863
|
|
36,933
|
Retained
earnings
|
160,222
|
|
164,163
|
|
187,601
|
Total Actions
Semiconductor Co., Ltd. shareholders' equity
|
152,221
|
|
155,717
|
|
216,622
|
Non-controlling
interest
|
(34)
|
|
(34)
|
|
(33)
|
Total
equity
|
152,187
|
|
155,683
|
|
216,589
|
TOTAL LIABILITIES
AND EQUITY
|
225,398
|
|
249,151
|
|
278,862
|
|
|
|
|
|
|
ACTIONS
SEMICONDUCTOR CO., LTD.
|
CONSOLIDATED
CONDENSED STATEMENT OF OPERATIONS
|
(in thousands of
U.S. dollars, except number of shares and per share
amounts)
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Three months ended
|
|
Three months ended
|
|
|
March 31,
|
|
December
31,
|
|
March 31,
|
|
|
2016
|
|
2015
|
|
2015
|
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
System-on-a-chip products
|
|
11,987
|
|
11,938
|
|
10,447
|
Semiconductor product testing services
|
|
6
|
|
5
|
|
30
|
|
|
11,993
|
|
11,943
|
|
10,477
|
Cost of
revenues:
|
|
|
|
|
|
|
System-on-a-chip products
|
|
(7,759)
|
|
(10,614)
|
|
(8,006)
|
Semiconductor product testing services
|
|
(2)
|
|
(2)
|
|
(11)
|
|
|
(7,761)
|
|
(10,616)
|
|
(8,017)
|
Gross
profit
|
|
4,232
|
|
1,327
|
|
2,460
|
Other operating
income
|
|
260
|
|
1,261
|
|
60
|
Operating
expenses:
|
|
|
|
|
|
|
Research and
development
|
|
(6,560)
|
|
(6,357)
|
|
(6,845)
|
General and
administrative
|
|
(2,068)
|
|
(2,266)
|
|
(2,049)
|
Selling and
marketing
|
|
(455)
|
|
(495)
|
|
(594)
|
Total operating
expenses
|
|
(9,083)
|
|
(9,118)
|
|
(9,488)
|
Loss from
operations
|
|
(4,591)
|
|
(6,530)
|
|
(6,968)
|
Other (expense)
income
|
|
(120)
|
|
(1,289)
|
|
16
|
Interest
income
|
|
1,132
|
|
1,121
|
|
1,646
|
Interest
expense
|
|
(310)
|
|
(324)
|
|
(163)
|
Loss before income taxes, equity in net income (loss) of
equity method investees and non-controlling interest
|
|
(3,889)
|
|
(7,022)
|
|
(5,469)
|
Income tax (expense)
credit
|
|
(115)
|
|
224
|
|
499
|
Equity in net income
(loss) of equity method investees
|
|
63
|
|
(388)
|
|
(27)
|
Net loss
|
|
(3,941)
|
|
(7,186)
|
|
(4,997)
|
Less: Net loss
attributable to non-controlling interest
|
|
-
|
|
1
|
|
-
|
Net loss attributable
to Actions Semiconductor Co., Ltd. Shareholders
|
|
(3,941)
|
|
(7,185)
|
|
(4,997)
|
|
|
|
|
|
|
|
Net loss attributable to Actions Semiconductor Co., Ltd. Shareholders
|
|
|
|
|
|
|
Basic (per
share)
|
|
(0.015)
|
|
(0.027)
|
|
(0.014)
|
Diluted (per
share)
|
|
(0.015)
|
|
(0.027)
|
|
(0.014)
|
|
|
|
|
|
|
|
Basic (per
ADS)
|
|
(0.089)
|
|
(0.162)
|
|
(0.085)
|
Diluted (per
ADS)
|
|
(0.089)
|
|
(0.162)
|
|
(0.085)
|
|
|
|
|
|
|
|
Weighted-average
shares used in computation:
|
|
|
|
|
|
|
Basic
|
|
265,785,580
|
|
265,887,058
|
|
352,379,927
|
Diluted
|
|
265,785,580
|
|
265,887,058
|
|
352,379,927
|
|
|
|
|
|
|
|
Weighted-average ADS
used in computation :
|
|
|
|
|
|
|
Basic
|
|
44,297,597
|
|
44,314,510
|
|
58,729,988
|
Diluted
|
|
44,297,597
|
|
44,314,510
|
|
58,729,988
|
|
|
|
|
|
|
|
Note: Share-based
compensation recorded in each expense classification
above is as follows:
|
|
|
|
|
|
|
Research and
development
|
|
111
|
|
115
|
|
5
|
General and
administrative
|
|
18
|
|
16
|
|
-
|
Selling and
marketing
|
|
9
|
|
10
|
|
-
|
Cost of
revenues
|
|
1
|
|
2
|
|
-
|
|
|
|
|
|
|
|
ACTIONS
SEMICONDUCTOR CO., LTD.
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(in thousands of
U.S. dollars)
|
|
Three months ended
|
|
Three months ended
|
|
Three months ended
|
|
March 31,
|
|
December
31,
|
|
March 31,
|
|
2016
|
|
2015
|
|
2015
|
|
(unaudited)
|
|
(unaudited)
|
|
(unaudited)
|
Operating
activities:
|
|
|
|
|
|
Net loss
|
(3,941)
|
|
(7,186)
|
|
(4,997)
|
Adjustments to reconcile net loss to net cash provided by operating activities:
|
|
|
|
|
|
Operating
activities:
|
|
|
|
|
|
Depreciation
of property, plant and equipment
|
440
|
|
454
|
|
475
|
Allowance for
doubtful accounts receivable
|
-
|
|
-
|
|
490
|
Amortization
of land use right
|
8
|
|
8
|
|
9
|
Amortization
of acquired intangible assets
|
761
|
|
760
|
|
1,228
|
Loss on
disposal of property, plant and equipment
|
17
|
|
2
|
|
-
|
Loss on
disposal of intangible assets
|
24
|
|
-
|
|
-
|
Share of net
(income) loss of equity method investees
|
(63)
|
|
388
|
|
27
|
Share-based compensation
|
138
|
|
143
|
|
5
|
Deferred
tax
|
112
|
|
(228)
|
|
(343)
|
Changes in
operating assets and liabilities:
|
|
|
|
|
|
Accounts receivable
|
148
|
|
(171)
|
|
(491)
|
Amount due from a related party
|
(28)
|
|
290
|
|
1,095
|
Inventories
|
147
|
|
4,367
|
|
(1,008)
|
Amount due from an equity method investee
|
(5)
|
|
22
|
|
(7)
|
Prepaid expenses and other current assets
|
143
|
|
2,203
|
|
(1,178)
|
Accounts payable
|
1,197
|
|
(4,894)
|
|
833
|
Amount due to a related party
|
(151)
|
|
73
|
|
(97)
|
Accrued expenses and other current liabilities
|
(1,768)
|
|
943
|
|
(1,214)
|
Income tax recoverable
|
-
|
|
-
|
|
(159)
|
Rental deposit paid
|
(3)
|
|
-
|
|
(11)
|
Note Receivables
|
-
|
|
-
|
|
161
|
Net cash used in
operating activities
|
(2,824)
|
|
(2,826)
|
|
(5,182)
|
|
|
|
|
|
|
Investing
activities:
|
|
|
|
|
|
Proceeds from
redemption of marketable securities
|
2,013
|
|
1,169
|
|
-
|
Purchase of
marketable securities
|
(9,584)
|
|
(573)
|
|
(4,649)
|
Purchase of
property, plant and equipment
|
(133)
|
|
(127)
|
|
(76)
|
Purchase of
intangible assets
|
(366)
|
|
(461)
|
|
(111)
|
(Increase)
decrease in time deposits
|
-
|
|
(154)
|
|
(5,627)
|
Decrease
(increase) in restricted deposits
|
29,224
|
|
(6,536)
|
|
(195)
|
Net cash provided by
(used in) investing activities
|
21,154
|
|
(6,682)
|
|
(10,658)
|
|
|
|
|
|
|
Financing
activities:
|
|
|
|
|
|
Advance
subsidy from local authorities of Zhuhai, the PRC
|
-
|
|
128
|
|
-
|
Distribution
of government grant to third party
|
-
|
|
(296)
|
|
-
|
Proceeds from
exercise of share-based awards
|
4
|
|
1
|
|
147
|
Repurchase of
ordinary shares
|
(15)
|
|
(23)
|
|
(632)
|
Raise of
short-term bank loans
|
25,000
|
|
-
|
|
-
|
Repayment of
short-term bank loans
|
(45,000)
|
|
-
|
|
-
|
Net cash used in
financing activities
|
(20,011)
|
|
(190)
|
|
(485)
|
|
|
|
|
|
|
Net decrease in cash
and cash equivalents
|
(1,681)
|
|
(9,698)
|
|
(16,325)
|
|
|
|
|
|
|
Cash and cash
equivalents at the beginning of the period
|
36,262
|
|
46,564
|
|
78,177
|
|
|
|
|
|
|
Effect of exchange
rate changes on cash
|
86
|
|
(604)
|
|
3
|
Cash and cash
equivalents at the end of the period
|
34,667
|
|
36,262
|
|
61,855
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/actions-semiconductor-reports-first-quarter-2016-results-300275433.html
SOURCE Actions Semiconductor Co., Ltd.