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Actions Semiconductor's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ACTS

And now I'd like to turn the call over to Dr. Zhenyu Zhou.

Zhenyu Zhou

Thank you for participating in Actions' earnings conference call. We appreciate your continued interest in the company. I'm pleased to be able to share with you an update on our second quarter performance as well as discuss our strategy for the second half of 2012. Later on the call, Nigel Liu, CFO, will discuss financial results for the second quarter. I will be available for the Q&A portion on the call along with Nigel and Chung Hsu, Actions Director of Investor Relations.

And now for our update on our business. We were pleased to report revenue growth of 20.7% year over year and 17.8% from last quarter. In the second quarter of 2012, Actions revenue was $12.6 million and net loss was $0.56 million or $0.01 per ADS.

Gross margin in the second quarter increased 37% from 34.9% in the first quarter. Our more value-oriented solutions such as boom box products continued to comprise the largest portion of our product mix during the quarter. In addition to the continued strength in the boom box segment, we maintained our leading market share positions in the mainstream portable video and portable audio products.

We are proud of our market leadership positions and continue to believe it provides a strong platform for growth. Actions owns the dominant market share in non-Apple audio products and video players with gaming and video capturing functionality, and we continue to gain market share in the advanced high-definition portable video market. Our growth initiatives remain largely focused on penetrating and gaining tractions in the mobile internet enabled multimedia market. As we move through the second half of the year, we will continue to invest in R&D for advanced products and we'll maintain prudent management of our operating expenses.

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