Actions Semiconductor Q3 net profit slumps 50 percent
Written by Administrator
Friday, 02 November 2007
BEIJING, Oct. 31 (InfoChina) – Actions Semiconductor Co., Ltd. (Nasdaq: ACTS), one of China's leading fabless semiconductor producers, Wednesday announced that its net profit for Q3 plunged 50 percent from the same period of last year to 10.3 million U.S. dollars, far lower than earlier market expectation.
As the financial report tells, the revenue for the third quarter arrived at 27 million U.S. dollars, evening the figure of last quarter, yet down 45 percent over the same period of last year.
Besides, as a result of net profit tumble, the company’s Q3 earnings per ADS dropped to 0.12 U.S. dollars from 0.24 U.S. dollars in the third quarter of 2006.
Thomson analysts earlier reckoned that the company could net 0.14 U.S. dollars per ADS on revenue of 30.1 million U.S dollars in the quarter.
Nan-Horng Yeh, Chief Executive Officer of Actions Semiconductor, commented, although the challenging market conditions led to lower-than-expected performance, the company was still positive toward its future profitability underpinned by insistent efforts in cost savings migration, strong demands for Series 9 products, as well as long-term opportunities to expand product portfolio from the low end to the high end. (Edited by Zhu Zhu, )
China Stock News 
