Actions Semiconductor Reports First 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 March 31,


At December 31,


At March 31,


2014


2013


2013


(unaudited)


(audited)


(unaudited)

ASSETS






Current assets:






  Cash and cash equivalents

40,596


53,263


57,511

  Time deposit

322


327


-

  Restricted deposits

37,823


27,181


15,322

  Marketable securities

124,509


126,607


139,520

  Trading securities

73


74


74

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

6,784


5,782


5,248

  Amount due from a related party

725


1,301


292

  Amount due from an equity method investee

42


38


36

  Inventories, net of inventory written-down of $1,965, $1,558 and
      $704 as of March 31, 2014, December 31, 2013 and March 31, 2013,
      respectively

25,308


20,278


16,961

  Prepaid expenses and other current assets

3,466


3,972


10,734

  Income tax recoverable

46


67


189

  Deferred tax assets

578


416


422

Total current assets

240,272


239,306


246,309







  Investments in equity method investees

17,779


17,843


14,262

  Other investments

15,627


15,648


16,308

  Marketable securities

16,099


17,139


11,269

  Rental deposits

70


61


58

  Property, plant and equipment, net

31,142


31,896


31,876

  Land use right

1,542


1,588


1,579

  Acquired intangible assets, net

10,862


12,218


10,022

  Deposit paid for acquisition of intangible assets

380


145


-

  Deferred tax assets

93


99


76

TOTAL ASSETS

333,866


335,943


331,759







LIABILITIES AND EQUITY






Current liabilities:






  Accounts payable

9,992


6,016


11,656

  Accrued expenses and other current liabilities

5,024


6,127


8,340

  Short-term bank loans

40,500


35,500


25,500

  Other liabilities

1,331


1,362


2,351

  Income tax payable

49


49


135

  Deferred tax liabilities

417


343


607

Total current liabilities

57,313


49,397


48,589







Other liabilities

370


412


13

Payable for acquisition of intangible assets

-


-


128

Deferred tax liabilities

3,493


3,589


3,299

Total liabilities

61,176


53,398


52,029

Equity:






 Ordinary shares

1


1


1

 Additional paid-in capital

18,584


18,882


20,257

 Accumulated other comprehensive income

36,672


40,734


36,246

 Retained earnings

217,464


222,959


223,256

Total Actions Semiconductor Co., Ltd. shareholders' equity

272,721


282,576


279,760

Non-controlling interest

(31)


(31)


(30)

Total equity

272,690


282,545


279,730

TOTAL LIABILITIES AND EQUITY

333,866


335,943


331,759


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