Actions Semiconductor Reports Fourth Quarter and Full Year 2014 Results

 

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


Year ended


Year ended



December 31,


December 31,


December 31,


December 31,



2014


2013


2014


2013



(unaudited)


(unaudited)


(unaudited)


(audited)










Revenues:









  Third-parties:









   System-on-a-chip products


10,425


15,095


40,932


64,617

   Semiconductor product testing services


36


29


117


135



10,461


15,124


41,049


64,752

  Related-parties:









   System-on-a-chip products


3,401


2,451


9,211


4,639

  Total revenues


13,862


17,575


50,260


69,391

Cost of revenues:









  Third-parties:









   System-on-a-chip products


(12,920)


(11,567)


(37,743)


(44,324)

   Semiconductor product testing services


(18)


(13)


(46)


(58)



(12,938)


(11,580)


(37,789)


(44,382)

  Related-parties:









   System-on-a-chip products


(3,585)


(2,094)


(8,405)


(3,583)

  Total cost of revenues


(16,523)


(13,674)


(46,194)


(47,965)

Gross (loss) profit


(2,661)


3,901


4,066


21,426

Other operating income


231


1,517


890


2,170

Operating expenses:









  Research and development


(7,066)


(6,086)


(31,123)


(25,994)

  General and administrative


(2,661)


(2,547)


(10,330)


(8,764)

  Selling and marketing


(601)


(614)


(2,175)


(2,057)

  Impairment on intangible assets


(535)


-


(820)


-

Total operating expenses


(10,863)


(9,247)


(44,448)


(36,815)

Loss from operations


(13,293)


(3,829)


(39,492)


(13,219)

Other (expense) income


(1,085)


779


(2,736)


2,336

Dividend income from an other investment


-


-


423


493

Other-than-temporary impairment loss on investments


-


(681)


-


(681)

Interest income


1,699


3,241


9,611


12,358

Interest expense


(147)


(146)


(530)


(498)

(Loss) income before income taxes, equity in net income (loss) of
equity method investees and non-controlling interest


(12,826)


(636)


(32,724)


789

Income tax credit (expense) 


337


(108)


1,796


(403)

Equity in net income (loss) of equity method investees


332


(82)


566


(264)

Net (loss) income


(12,157)


(826)


(30,362)


122

Less: Net loss attributable to non-controlling interest


1


1


1


2

Net (loss) income attributable to Actions Semiconductor Co., Ltd. Shareholders


(12,156)


(825)


(30,361)


124










Net (loss) income attributable to Actions Semiconductor Co., Ltd. Shareholders









Basic (per share)


(0.034)


(0.002)


(0.077)


0.000

Diluted (per share)


(0.034)


(0.002)


(0.077)


0.000










Basic (per ADS)


(0.206)


(0.012)


(0.461)


0.002

Diluted (per ADS)


(0.206)


(0.012)


(0.461)


0.002










Weighted-average shares used in computation:









Basic


353,508,683


412,162,575


395,380,921


412,103,255

Diluted


353,508,683


412,162,575


395,380,921


425,415,011










Weighted-average ADS used in computation :









Basic


58,918,114


68,693,763


65,896,820


68,683,876

Diluted


58,918,114


68,693,763


65,896,820


70,902,502










Note: Share-based compensation recorded in each









expense classification above is as follows:









  Research and development


-


74


10


347

  General and administrative


-


25


5


79

  Selling and marketing


1


3


1


17

  Cost of revenues


28


-


28


49


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