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