|
Actions Semi Narrows Q3 Loss, Swaps CEO
Fabless semiconductor company Actions Semiconductor (Nasdaq:ACTS) recorded a net loss of $0.6 million in the third quarter ended September 30, compared to a net loss of $0.8 million in the previous quarter and net income of $7.3 million in the year-ago period, the company said November 6. Revenue was $13.4 million in the third quarter, up from $10.5 million in the previous quarter and down from $27.3 million in the third quarter of 2008.
Third quarter results were driven by growth in sales of the company's automotive MP3 and portable media player products, which accounted for more than half of total revenue, said Actions Semiconductor CEO Nan-Horng Yeh.
Actions Semiconductor expects revenue in the range of $8.5 million to $10.5 million in the fourth quarter, including share-based compensation expense of $0.9 million to $1 million.
Company CEO Nan-Horng Yeh has stepped down from his position to pursue personal interests, and will be replaced by Chief Strategy Officer and General Manager Niccolo Chen, who joined Actions in 2007, the company announced November 6. Yeh will remain a board member.
|
