We would like to remind you that during the course of this conference call, Action's management team may make projections or other forward-looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are simply estimates and actual events or results may differ materially. We refer you to the documents that Actions files from time to time with the SEC, specifically the company's most recently filed Forms F-1, 20F and 6-K. These documents identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.
And now I'd like to turn the call over to Nigel Liu. Nigel?
N igel L iu
Yes. Thank you.Thank you for participating in Actions on this conference call. We appreciate your continued interest in Actions. I will provide a brief update and discuss financial results for the third quarter of 2011, as well the expectation for future performance. Later, Hsuan-Wen will be available during the Q&A portion of the call. First, I will comment on the press release issued today announcing the CEO transition. Effective November 13, 2011, Niccolo Chen will be stepping down as CEO of Actions Semiconductor. Dr. David Zhou will be promoted to the role of CEO effective December 1, 2011. Since 2010, David has been Senior Vice President at Actions Semiconductor, and prior to that, he served as CEO of Mavrix Technology, which he founded in 2005. Mavrix was acquired by Actions in 2010 and is now a subsidiary of Actions Semiconductor. A native of China, David attended (inaudible) in the United States and received his PhD from the University of Southern California. He has over 15 years of senior management experience both in the US and China. The board of directors and the management team are (inaudible) his experience and strong understanding of our business will ensure a smooth transition.