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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, 20-F and 6-Ks. 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 Dr. Zhenyu Zhou. Dr. Zhou? Zhenyu Zhou Thank you for participating in Actions' earnings conference call. We appreciate your continued interest in the company. This marks my first earning conference call as CEO of Semiconductor -- Actions Semiconductor, and I am pleased to be able to share with you an update on the business, as well as discuss our strategy for 2012. Later on the call, Nigel Liu, CFO will discuss financial results for the fourth quarter and the fiscal year of 2011, as well as provide guidance for the first quarter. I will be available for the Q&A portion of the call along with Nigel and Chung Hsu, Actions' Director of Investor Relations. And now, I want to update on our business. For the full year 2011, we were pleased to achieve 26% revenue growth, significantly improve our profitability and an increase in shipment by 23%. Our fourth quarter operating results were in line with the expectations and reflect the current demand environment in our end market. In the fourth quarter of 2011, Actions revenue was $12.3 million and net loss was $0.1 million, or $0.00 per ADS. Gross margin for the fourth quarter of 2011 was 37.6%. For the fiscal year ended December 31st, 2011, revenue was $47.5 million and net income was $3.1 million or $0.04 per ADS. I was excited to transition into the role of CEO of Actions Semiconductor. I believe Actions has a great platform from which to build. We are the market leader in portable multimedia SoCs and have a solid track record of product migration, successfully transitioning from the portable audio market into the portable video market.
Actions hold the dominant market share in non-Apple audio products and in video players with gaming and video capture functionality. In 2011, our demand for high definition portable video products gained significant traction, giving us the leading position in the overall portable video market category.We continue rapidly getting market share in the advanced high definition portable video markets, as well as the automotive audio and boom box market. Our portable audio products have had successfully adopted by large OEMs worldwide. Over the next year, we plan to leverage the strong product portfolio we have to maintain our market share and further extend our leadership in these established markets. Our growth initiative will be largely focused on penetrating the mobile internet enabled multimedia market. Connectivity is bringing new life to audio and video players, such as Bluetooth-enabled MP3, boom box and WiFi-based streaming video players. The most important growth element we have identified is the entry-level mobile internet devices, MIDs or media tablets. We believe this product category represents the strongest growth potential and [views] [ph] on the development work we have done leveraging the Android platform. In these product segments, we can leverage our core technology strengths in multimedia and gaming. As we move forward and pursue these products as a strategy, we remain focused on driving strength and financial discipline. We will continue to invest in R&D for advanced products, and we will look to lower operational expenses. Creating long-term shareholder value will continue to be the top priority for the company. In the fourth quarter, we spent approximately $1.2 million on the share repurchase program, compared with $0.4 million in the third quarter. Read the rest of this transcript for free on seekingalpha.com