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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

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

Stock quotes in this article: ACTS 

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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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