Actions Semiconductor Reports Second Quarter 2014 Results

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 June 30,


At March 31,


At December 31,


2014


2014


2013


(unaudited)


(unaudited)


(audited)

ASSETS






Current assets:






  Cash and cash equivalents

60,888


40,596


53,263

  Time deposit

327


322


327

  Restricted deposits

32,463


37,823


27,181

  Marketable securities

79,664


124,509


126,607

  Trading securities

74


73


74

  Accounts receivable, net of allowance for doubtful accounts of $185, $23
      and nil as of June 30, 2014, March 31, 2014 and December 31, 2013, respectively

5,196


6,784


5,782

  Amount due from a related party

737


725


1,301

  Amount due from an equity method investee

43


42


38

  Inventories, net of inventory written-down of $2,845, $1,965 and
      $1,558 as of June 30, 2014, March 31, 2014 and December 31, 2013, respectively

27,216


25,308


20,278

  Prepaid expenses and other current assets

3,831


3,466


3,972

  Income tax recoverable

85


46


67

  Dividend receivable

425


-


-

  Deferred tax assets

809


578


416

Total current assets

211,758


240,272


239,306







  Investments in equity method investees

26,992


17,779


17,843

  Other investments

15,625


15,627


15,648

  Marketable securities

16,067


16,099


17,139

  Rental deposits

61


70


61

  Property, plant and equipment, net

30,886


31,142


31,896

  Land use right

1,530


1,542


1,588

  Acquired intangible assets, net

19,115


10,862


12,218

  Deposit paid for acquisition of intangible assets

489


380


145

  Deferred tax assets

89


93


99

TOTAL ASSETS

322,612


333,866


335,943







LIABILITIES AND EQUITY






Current liabilities:






  Accounts payable

7,267


9,992


6,016

  Accrued expenses and other current liabilities

9,521


5,024


6,127

  Short-term bank loans

34,500


40,500


35,500

  Other liabilities

1,698


1,331


1,362

  Income tax payable

49


49


49

  Deferred tax liabilities

339


417


343

Total current liabilities

53,374


57,313


49,397







Other liabilities

-


370


412

Deferred tax liabilities

988


3,493


3,589

Total liabilities

54,362


61,176


53,398

Equity:






 Ordinary shares

1


1


1

 Additional paid-in capital

17,957


18,584


18,882

 Accumulated other comprehensive income

36,327


36,672


40,734

 Retained earnings

213,997


217,464


222,959

Total Actions Semiconductor Co., Ltd. shareholders' equity

268,282


272,721


282,576

Non-controlling interest

(32)


(31)


(31)

Total equity

268,250


272,690


282,545

TOTAL LIABILITIES AND EQUITY

322,612


333,866


335,943


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