This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Actions' CEO Discusses Q1 2011 Results - Earnings Call Transcript

Stocks in this article: ACTS

G&A expense was $1.7 million in the first quarter or 18.1% of revenue, which was lower than the fourth quarter of $2.2 million, mainly due to the annual listing expense or reimbursement for our [ADS Depositary] Bank. Sales and marketing expense was $0.3 million in the first quarter or 2.8% of revenue compared to $0.4 million in the fourth quarter.

We continue to tightening manage the expense levels in this category as demonstrated by our higher increase of growth, non-engineering functions and the salary cuts of the executive and the management level. Operating loss was $3.1 million for the first quarter of 2011, compared to operating loss of $3 million for the prior quarter. As a result of their continued appreciation of the Chinese Yen against the U.S. dollar and their competitive compensation in China talent market, we expect our operating expenses denominated against Chinese Yen to increase gradually.

Net other income was $1.1 million as a net result of a foreign exchange gain. Other income of $0.8 million for the fourth quarter was also related to a net foreign exchange gain. Interest income was $2.8 million for the first quarter, up from $2.5 million in the fourth quarter as a result of the interest rate related in Chinese Yen starting in late 2010.

Income before taxes was $0.8 million for the first quarter as compared to income of $0.3 million in the fourth quarter. Net income tax expense was $0.3 for the first quarter compared to income tax expense of $0.1 million in the fourth quarter.

Net income attributable to Actions Semiconductor on a U.S. GAAP basis for the first quarter of 2011 was $5,000 or $0.00 per diluted ADS compared to a net loss of $115,000 or $0.00 per diluted ADS for the fourth quarter of 2010.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs