Actions
Updates Outlook for First Quarter 2007
ZHUHAI,
China, March 15, 2007 -- Actions Semiconductor Co., Ltd. (Nasdaq: ACTS),
one of China's leading fabless semiconductor companies, today provided an
updated outlook for the first quarter ended March 31, 2007.
Based
upon preliminary data for the quarter ending March 31, 2007, Actions expects
to
report revenue of approximately $29.0 million to $32.0 million and fully diluted
earnings per ADS of $0.14 to $0.17. The Company previously announced it expected
first quarter revenue in the range of $34.0 to $37.0 million and fully diluted
earnings per ADS of $0.15 to $0.19.
“Our
results for the first quarter were impacted by more pronounced seasonality
and a
greater than expected decline in NAND flash pricing,” commented Mr. Nan-Horng
Yeh, Chief Executive Officer of Actions Semiconductor. “We are seeing demand for
our products starting to improve after the Chinese New Year holiday in February,
and initial responses to our newly introduced Series 13 product have been very
positive. We are confident Actions’ competitive offering will enable us to
continue to dominate the portable media player (“PMP”) market.”
About
Actions Semiconductor
Actions
Semiconductor is one of China's leading fabless semiconductor companies that
provides mixed-signal and multimedia SoC solutions for portable consumer
electronics. Actions Semiconductor products include SoCs, firmware, software,
solution development kits, as well as detailed specifications of other required
components and the providers of those components. Actions Semiconductor also
provides total product and technology solutions that allow customers to quickly
introduce new portable consumer electronics to the mass market in a cost
effective way. The company is headquartered in Zhuhai, China, with offices
in
Beijing and Shenzhen.
For
more information, please visit the Actions Semiconductor website at
http://www.actions-semi.com.
"Safe
Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Statements
contained in this release that are not historical facts are forward-looking
statements, as that term is defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements, including financial projections and
forecasts, involve risks and uncertainties that could cause Actions
Semiconductor's actual results to differ materially from our current
expectations. Factors that could cause Actions Semiconductor's results to differ
materially from those set forth in these forward-looking statements include
customers' cancellation or modification of their orders; our failure to
accurately forecast demand for our products; the loss of, or a significant
reduction in orders from, any of our significant customers; fluctuations in
our
operating results; our inability to develop and sell new products; defects
in or
failures of our products; the expense and uncertainty involved in our customer
design-win efforts; the financial viability of the distributors of our products;
consumer demand; worldwide economic and political conditions; fluctuations
in
our costs to manufacture our products; our reliance on third parties to
manufacture, test, assemble and ship our products; our ability to retain and
attract key personnel; our ability to compete with our competitors; and our
ability to protect our intellectual property rights and not infringe the
intellectual property rights of others. Other factors that may cause our actual
results to differ from those set forth in the forward-looking statements
contained in this press release and that may affect our prospects in general
are
described in our filings with the Securities and Exchange Commission, including
our Registration Statement on Form F-1 related to our initial public offering
and secondary offering. Actions Semiconductor undertakes no obligation to update
or revise forward-looking statements to reflect subsequent events or changed
assumptions or circumstances.
For
More Information
Investor
Contacts:
|
Lisa
Laukkanen
|
Calvin
Lau
|
|
The
Blueshirt Group for Actions Semiconductor
|
Investor
Relations at Actions
|
|
lisa@blueshirtgroup.com
|
calvin.lau@actions-semi.com
|
|
+1-415-217-4967
|
+86-756
3392 353 *1018
|