Actions Semiconductor Reports Third Quarter 2014 Results

Investor Contacts:

Elaine Ketchmere, CFA

Ally Xie, CA, CPA

Compass Investor Relations

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 September 30,


At June 30,


At December 31,


2014


2014


2013


(unaudited)


(unaudited)


(audited)

ASSETS






Current assets:






  Cash and cash equivalents

78,520


60,888


53,263

  Time deposit

161


327


327

  Restricted deposits

38,985


32,463


27,181

  Marketable securities

43,520


79,664


126,607

  Trading securities

74


74


74

  Accounts receivable, net of allowance for doubtful accounts of $379, $185 and $nil
      as of September 30,2014,  June 30, 2014 and December 31, 2013 respectively

4,520


5,196


5,782

  Amount due from a related party

1,032


737


1,301

  Amount due from an equity method investee

46


43


38

  Inventories, net of inventory written-down of $3,747, $2,845 and $1,558 as of
     September 30, 2014, June 30, 2014 and December 31, 2013 respectively

22,806


27,216


20,278

  Prepaid expenses and other current assets

3,563


3,831


3,972

  Income tax recoverable

154


85


67

  Dividend receivable

-


425


-

  Deferred tax assets

848


809


416

Total current assets

194,229


211,758


239,306







  Investments in equity method investees

27,061


26,992


17,843

  Other investments

15,639


15,625


15,648

  Marketable securities

-


16,067


17,139

  Rental deposits

55


61


61

  Property, plant and equipment, net

31,183


30,886


31,896

  Land use right

1,545


1,530


1,588

  Acquired intangible assets, net

17,684


19,115


12,218

  Deposit paid for acquisition of intangible assets

430


489


145

  Deferred tax assets

85


89


99

TOTAL ASSETS

287,911


322,612


335,943







LIABILITIES AND EQUITY






Current liabilities:






  Accounts payable

5,170


7,267


6,016

  Accrued expenses and other current liabilities

9,680


9,521


6,127

  Short-term bank loans

33,500


34,500


35,500

  Other liabilities

1,728


1,698


1,362

  Income tax payable

49


49


49

  Deferred tax liabilities

108


339


343

Total current liabilities

50,235


53,374


49,397







Other liabilities

229


-


412

Deferred tax liabilities

958


988


3,589

Total liabilities

51,422


54,362


53,398

Equity:






 Ordinary shares

1


1


1

 Additional paid-in capital

63,017


63,012


63,001

 Treasury Stock

(70,170)


(45,055)


(44,119)

 Accumulated other comprehensive income

38,919


36,327


40,734

 Retained earnings

204,754


213,997


222,959

Total Actions Semiconductor Co., Ltd. shareholders' equity

236,521


268,282


282,576

Non-controlling interest

(32)


(32)


(31)

Total equity

236,489


268,250


282,545

TOTAL LIABILITIES AND EQUITY

287,911


322,612


335,943


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