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Action Semiconductor increases revenue forecast

The Associated Press

Actions Semiconductor Co. Ltd., a Chinese company that makes semiconductors for consumer electronics, on Tuesday raised its revenue guidance for the first quarter based on a preliminary review of its financial performance.

The company now expects revenue of $16 million to $16.5 million, up from a prior forecast of $12 million to $13 million. Actions Semiconductor said the improved forecast comes from stronger-than-expected sales of its newest tablet product.

The company will report full quarterly results in May.

Shares of Actions Semiconductor jumped 8 percent to $2.85 in after-hours trading.