Revenue for the second quarter of 2013 was $18.5 million, as compared to revenue of $16.4 million for the first quarter of 2013, and $12.6 million for the second quarter of 2012.
Net income attributable to Actions Semiconductor's shareholders for the second quarter of 2013 was $0.7 million or $0.01 per American Depositary Shares ("ADS"). This compares to net income attributable to Actions Semiconductor's shareholders of $0.4 million or $0.006 per ADS, for the first quarter of 2013, and net loss attributable to Actions Semiconductor's shareholders of $0.6 million or $0.008 per ADS, for the second quarter of 2012.
Wow, I just check my record for the past year. The number of stocks has reduced quite significantly and cash increased substantially! Therefore per share price even more attractive.o
I worked out different scenarios. 2.5 was reflecting only the value in 2011. If I use profit of the just one quarter of 7 million for the full year., it worths 3.75. If the profit for 1 year is 22 millions, then it's 6.75. If the profit increases to 44 million, then it's 9.,8 millions. The share buyback really adding juice to intrinsic share value.
Guidance looks fine but; inventory went up a lot which I don't like also expenses on R&D up about $2M. Margins down due to some inventory writeoff of $600 thousand. So there are some flies in the ointment. All this moved further away the breakeven point on operations. Time to start making profit on operations and not constantly supplementing it from cash earned on investments.
I hope they will explain the big increase in inventory levels.