This Day On The Street
Continue to site
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

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

Creating long-term shareholder value remains a top priority for the company. In the second quarter we spent approximately $1.4 million on the share repurchase program, compared with $1.0 million in the first quarter. As of June 30, 2012, the company had invested a total of approximately $43.9 million in the program, representing approximately 19.1 million ADS shares, which is close to the previously approved 20 million ADS cap of the existing buyback program. Therefore we are pleased to announce that today the Board approved an increase of 10 million ADS to the existing buyback program.

During the second quarter, we faced the additional headwind of RMB exchange rate volatility and recorded an exchange rate loss. Although we anticipate continued RMB volatility for the remainder of the year, by leveraging the RMB-denominated yields, we still enjoy a high return from our RMB-denominated assets.

And now for a detailed look at each category. Portable audio, during the second quarter we maintained our leading positions in the mainstream audio boom box market category. Volume shipments of our audio boom box products increased in the second quarter. We continue to secure design wins for our boom box products with large branded customers in China and we are beginning to penetrating international branded customers. In the second quarter, our sales to the mainstream segment of the MP3 market serving the non-display, mono-display and small color display media products continued to maintain the leading position in the market share of this category.

Portable video, overall shipments in the video category including our standard definition D1 and high-definition HD PMP and gaming products decreased in the second quarter as the market moved towards adoption of tablets. Video continues to be a key category for Actions, and as we move through the second half of 2012, we are focused on increasing our contributions from our newer advanced products in the video category.

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

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs