Actions Semiconductor Posts Wider Q2 Loss - Quick Facts

(RTTNews) - Actions Semiconductor Co., Ltd. (ACTS) reported a second-quarter net loss attributable to shareholders of $3.7 million or $0.06 per ADS compared to a loss of $3.5 million or $0.05 per ADS, for the second quarter of 2014.

Revenue was $13.7 million, compared to $12.0 million, previous year. Actions Semiconductor expects third-quarter revenue to be in the range of $13.0 to $14.0 million.

Zhenyu Zhou, CEO, 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."

Actions Semiconductor said 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.