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Actions Semiconductor Q1 2016 revenue up from previous, YoY quarters.

INTERNET BUSINESS NEWS-(C)1995-2016 M2 COMMUNICATIONS

Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) reported revenue for the first quarter of 2016 was USD12.0 million, as compared to revenue of USD11.9 million for the fourth quarter of 2015, and USD10.5 million for the first quarter of 2015.

Actions Semiconductor reported gross profit in the first quarter of USD4.2 million, as compared with USD1.3 million in the fourth quarter of 2015 and USD2.5 million in the first quarter of 2015. Gross margin was 35.3 percent for the first quarter of 2016, compared to gross margin of 11.1 percent for the fourth quarter of 2015, and 23.5 percent for the first quarter of 2015.

The first quarter of 2016 was favorably impacted by the sale of previously written-down inventory. Gross margin in the fourth quarter of 2015 was negatively impacted by the write-down of certain slower moving inventory that reduced gross margin by about 9.0 percent.

Operating expenses in the first quarter of 2016 were USD9.1 million, as compared to USD9.1 million in the fourth quarter of 2015 and USD9.5 million in the first quarter of 2015.

Research and development expenses were USD6.6 million for the first quarter, as compared to USD6.4 million in the fourth quarter of 2015 and USD6.8 million in the first quarter of 2015. The quarter-over-quarter increase was mainly due to a slight increase in mask expenses in current quarter.

General and administrative expenses were USD2.1 million in the first quarter, as compared to USD2.3 million in the fourth quarter of 2015 and USD2.0 million in the first quarter of 2015.

Selling and marketing expenses were USD0.5 million for the first quarter, as compared to USD0.5 million in the fourth quarter of 2015 and USD0.6 million in the first quarter of 2015.

Operating loss for the first quarter of 2016 was USD4.6 million, as compared to the operating loss of USD6.5 million in the fourth quarter of 2015 and the operating loss of USD7.0 million in the first quarter of 2015.

Actions Semiconductor is a China-based fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components.

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Comment:Actions Semiconductor Q1 2016 revenue up from previous, YoY quarters.
Publication:Internet Business News
Geographic Code:1USA
Date:May 27, 2016
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