Actions Semiconductor Reports Fourth Quarter and Full Year 2014

Actions Semiconductor Reports Fourth Quarter and Full Year 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 December 31,	At September 30,	At December 31,
	2014	2014	2013
	(unaudited)	(unaudited)	(audited)
ASSETS
Current assets:
Cash and cash equivalents	78,177	78,520	53,263
Time deposit	5	161	347
Restricted deposits	51,590	38,985	27,161
Marketable securities	38,384	43,520	126,607
Trading securities	70	74	74
Accounts receivable, net of allowance for doubtful accounts of $558, $379 and $nil as of December 31, 2014, September 30, 2014 and December 31, 2013, respectively	2,832	4,520	5,782
Amount due from a related party	1,650	1,032	1,301
Notes receivable	161	-	-
Amount due from an equity method investee	41	46	38
Inventories, net of inventory written-down of $7,718, $3,747 and $1,558 as of December 31, 2014, September 30, 2014 and December 31, 2013, respectively	13,970	22,806	20,278
Prepaid expenses and other current assets	4,511	3,563	3,972
Income tax recoverable	186	154	67
Deferred tax assets	1,179	848	416
Total current assets	192,756	194,229	239,306

Investments in equity method investees	27,352	27,061	17,843
Other investments	15,627	15,639	15,648
Marketable securities	-	-	17,139
Rental deposits	54	55	61
Property, plant and equipment, net	30,327	31,183	31,896
Land use right	1,514	1,545	1,588
Acquired intangible assets, net	16,459	17,684	12,218
Deposit paid for acquisition of intangible assets	538	430	145
Deferred tax assets	53	85	99
TOTAL ASSETS	284,680	287,911	335,943

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	6,049	5,170	6,016
Accrued expenses and other current liabilities	8,349	9,680	6,127
Short-term bank loans	45,000	33,500	35,500
Other liabilities	1,929	1,728	1,362
Income tax payable	49	49	49
Deferred tax liabilities	160	108	343
Total current liabilities	61,536	50,235	49,397

Other liabilities	-	229	412
Payable for acquisition of intangible assets	155	-	-
Deferred tax liabilities	919	958	3,589
Total liabilities	62,610	51,422	53,398
Equity:
Ordinary shares	1	1	1
Additional paid-in capital	63,046	63,017	63,001
Treasury Stock	(70,479)	(70,170)	(44,119)
Accumulated other comprehensive income	36,937	38,919	40,734
Retained earnings	192,598	204,754	222,959
Total Actions Semiconductor Co., Ltd. shareholders' equity	222,103	236,521	282,576
Non-controlling interest	(33)	(32)	(31)
Total equity	222,070	236,489	282,545
TOTAL LIABILITIES AND EQUITY	284,680	287,911	335,943

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