ZHUHAI, China, Aug. 3 /PRNewswire-Asia/ -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS - News), 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 second quarter ended June 30, 2009.

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

Revenue for the second quarter of 2009 was $10.5 million, as compared to revenue of $12.2 million for the first quarter of 2009, and $26.6 million for the second quarter of 2008.

Net loss attributable to Actions Semiconductor shareholders for the second quarter of 2009 was $0.8 million, or $0.01 per ADS, compared to net loss attributable to Actions Semiconductor shareholders of $1.5 million, or $0.02 per ADS, for the first quarter of 2009, and net income attributable to Actions Semiconductor shareholders of $7.6 million, or $0.09 per ADS, for the second quarter of 2008.

Actions Semiconductor reported gross margin of 27.7% for the second quarter of 2009. Actions Semiconductor ended the quarter with $76.3 million in cash and cash equivalents together with time deposits. Marketable securities, current and non-current, at the end of the quarter were $183.0 million.

Since the share repurchase programs started in 2007, the Company has invested approximately $22.4 million in repurchasing its shares. As of June 30, 2009, over 9.3 million American Depositary Shares (ADSs) were repurchased.

"We are pleased to report a sequential improvement in our bottom line results and to deliver revenue within our guidance range as we continue to operate in an extremely difficult environment," stated Mr. Nan-Horng Yeh, CEO of Actions Semiconductor. "During the quarter, our products targeting both the fast growing low end and advanced market segments experienced increased demand, impacting our gross margin, which came in slightly below our original expectations for the quarter. The management team remains committed to further cost controls and balance sheet preservation to maximize near term operating flexibility while working diligently to execute our growth strategy and strategically position ourselves in anticipation of market recovery. As we continue to target and develop new sales channels, we are maintaining our focus on technological innovation and commitment to delivering superior functionality," concluded Mr. Yeh.

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 2009 ending September 30, 2009, Actions Semiconductor estimates revenue in the range of $11 to $13 million, gross margin of 25%-30%, and operating expenses slightly higher on a sequential basis. The third quarter 2009 estimates include share-based compensation expense in the range of $0.9 to $1.0 million.