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Actions Semiconductor Reports Fourth Quarter and Fiscal Year 2010 Results

China Jan. 27, 2011 China December 31, 2010

All financial results are reported on a U.S. GAAP basis.

$10.7 million $9.3 million $7.9 million December 31, 2010 $37.6 million $44.1 million December 31, 2009

$0.15 million $0.00 $1.9 million $0.03 $7.5 million $0.10 $0.4 million $10.4 million $0.01 $0.14

$0.2 million $42.9 million $189.7 million

$35.2 million December 31, 2010

"We are pleased to exit 2010 with better than expected results for the fourth quarter," stated Mr. Niccolo Chen, CEO of Actions Semiconductor.  "Our fourth quarter results were driven by a strong increase in product shipments as the Company experienced improved demand for our new products addressing the faster growing segments of the MP4 market as well our high-volume automotive and boom box products. We enjoyed the first revenue contribution from our new gaming product line, Series G1000.  This product family provides a compelling platform for Gaming PMP manufacturers to deliver gaming devices cost effectively with high quality video functions.

"During 2010, we made progress on our product diversification strategy and achieved the milestone of penetrating into the advanced video PMP markets.  We introduced three new product families targeted toward mobile video entertainment markets.  We believe that we are beginning to benefit from the investments we have been making in R&D. Heading into 2011, we have increasing momentum in a number of markets that we serve, such as video gaming, digital video recording, Android based PMP, TV box, HD 1080P & 720P MP4, automotive audio, and boom box," concluded Mr. Chen.  

Business Outlook

The following statements are based upon management’s current expectations.  These statements are forward-looking, and actual results may differ materially.  The Company undertakes no obligation to update these statements.

March 31, 2011 $7.5 to $8.5 million $0.6 million

Conference Call Details

5:30 p.m. Eastern Time Thursday, January 27, 2011 www.actions-semi.com January 28, 2011

About Actions Semiconductor

China China Beijing Shanghai Shenzhen http://www.actions-semi.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995

Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements concerning signs of positive indicators in the industry for next year, growth in the market driven by continued proliferation of applications within the PMP market and incremental rebound of overall demand for these products, Actions Semiconductor’s belief that it is positioned to capture some upside from these trends, and Actions Semiconductor’s future expectations with respect to revenue, gross margin, operating expenses and share-based compensation expense.  Actions Semiconductor uses words like "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are estimates reflecting current assumptions, expectations and projections about future events and involve significant risks, both known and unknown, uncertainties and other factors that may cause Actions Semiconductor’s actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, customers’ cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms F-1, 20-F and 6-Ks. Other unknown or unpredictable factors also could have material adverse effects on Actions Semiconductor’s future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Except as required by law, Actions Semiconductor undertakes no obligation and does not intend to update or revise any forward-looking statement to reflect subsequent events or changed assumptions or circumstances.

Investor Contacts:

Lisa Laukkanen

Edward Chen

The Blueshirt Group

Investor Relations at Actions Semiconductor

[email protected]

[email protected]

415-217-4967

+86-756-3392353*1110

ACTIONS SEMICONDUCTOR CO., LTD.

CONSOLIDATED BALANCE SHEET

(in thousands of U.S. dollars)

At December 31,

At September 30,

At December 31,

2010

2010

2009

(unaudited)

(unaudited)

(audited)

ASSETS

Current assets:

 Cash and cash equivalents

42,872

53,919

87,706

 Time deposits

34

32

62

 Marketable securities

164,336

158,259

139,984

 Trading securities

535

510

 Accounts receivable, net

1,844

2,163

1,891

 Amount due from a related party

569

677

530

 Amount due from an equity method investee

94

300

492

 Notes receivable

60

 Inventories

4,832

6,128

4,501

 Prepaid expenses and other current assets

3,242

2,809

1,258

 Deferred tax assets

399

303

371

 Income tax receivable

190

Total current assets

218,757

225,350

236,795

 Investment in equity method investees

6,401

6,158

1,577

 Other investments (NIL, NIL and $420 carried at fair value as of December 31, 2010, September 30, 2010 and December 31, 2009 respectively)

2,764

2,757

3,258

 Marketable securities ($14,296, $14,177 and NIL carried at fair value as of December 31, 2010, September 30, 2010 and December 31, 2009 respectively)

24,831

24,623

23,773

 Rental deposits

40

42

46

 Property, plant and equipment, net

24,604

20,770

14,437

 Land use right

1,554

1,549

1,546

 Acquired intangible assets, net

4,318

4,565

3,625

 Deposit paid for acquisition of intangible assets

2,408

1,975

 Deferred tax assets

88

103

149

 Goodwill

468

468

TOTAL ASSETS

286,233

288,360

285,206

LIABILITIES AND EQUITY

Current liabilities:

 Accounts payable

2,850

5,721

2,355

 Accrued expenses and other current liabilities

7,247

5,969

4,626

 Other liabilities

2,502

2,260

2,124

 Income tax payable

140

102

129

 Deferred tax liabilities

446

377

284

Total current liabilities

13,185

14,429

9,518

Other liabilities

83

82

319

Deferred tax liabilities

2,286

2,225

2,058

Total liabilities

15,554

16,736

11,895

Equity:

Ordinary shares

1

1

1

Additional paid-in capital

24,252

26,317

31,423

Accumulated other comprehensive income

24,420

23,116

20,239

Retained earnings

222,032

222,184

221,648

Total Actions Semiconductor Co., Ltd. shareholders’ equity

270,705

271,618

273,311

Noncontrolling interest

(26)

6

Total equity

270,679

271,624

273,311

TOTAL LIABILITIES AND EQUITY

286,233

288,360

285,206

ACTIONS SEMICONDUCTOR CO., LTD.

CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS

(in thousands of U.S. dollars, except per share amounts)

Three months ended

Three months ended

Year ended

Year ended

December 31,

December 31,

December 31,

December 31,

2010

2009

2010

2009

(unaudited)

(audited)

 (unaudited)  

 (audited)  

Revenues:

 Third-parties:

  System-on-a-chip products

8,731

6,787

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