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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