Selling and marketing expenses were $2.2 million for 2015, as compared to $2.2 million in 2014.

Impairment of intangible assets for 2015 was $4.5 million, as compared to $0.8 million for 2014.  In the third quarter of 2015, the Company recorded an impairment of certain intangible assets based on management's best estimates of the market conditions for tablets and OTT set-top boxes over the remaining useful life of these assets. 

Operating loss for 2015 was $30.5 million, as compared to the operating loss of $39.5 million in 2014.

Other expense for 2015 was $3.0 million, as compared to other expense of $2.7 million in 2014. 

Interest income for 2015 was $5.7 million, down from $9.6 million in 2014.  The year-over-year decrease was due to lower cash and interest bearing securities following Dutch auction tender offers in September 2015 and 2014.

Income tax credit was $0.2 million for 2015, compared to income tax credit of $1.8 million in 2014.

Net loss attributable to Actions Semiconductor's shareholders for 2015 was $28.4 million or $0.518 per basic and diluted ADS.  This compares to net loss attributable to Actions Semiconductor's shareholders of $30.4 million, or $0.461 per basic and diluted ADS, for 2014. 

Financial Condition

The Company ended the fourth quarter of 2015 with $142.5 million in cash and cash equivalents, together with time deposits, trading securities, marketable securities and restricted deposits.  Total current assets were approximately $140.8 million, and the Company had working capital of approximately $48.2 million and $81.0 million in short-term bank loans, and total shareholder's equity was $155.7 million as of December 31, 2015. 

Since the share repurchase program commenced in 2007, the Company has invested approximately $113.4 million in repurchasing its ADSs and ordinary shares, including $57.2 million representing the equivalent of 24.0 million ADSs repurchased through Dutch auction tender offers in September 2015 and 2014.  As of December 31, 2015, the equivalent of approximately 49.0 million ADSs were repurchased. As of December 31, 2015, total number of outstanding ordinary shares (including ordinary shares represented by ADSs) was 265,824,928.

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.

Based on current market trends, the Company expects revenue in the first quarter of 2016 to be in the range of $11.5 to $12.0 million.  Traditionally the first quarter of the year is the seasonally slowest quarter due to the Chinese New Year holiday, which causes a slowdown in production by consumer electronics manufacturers in China for approximately three to four weeks.  However, in the first quarter of 2016 the Company expects revenue to be above year ago levels as a result of strong demand for its latest solutions for Bluetooth-enabled devices and a slight increase in shipments of its application processor SoCs. For the full year, the Company expects challenging conditions in the worldwide semiconductor industry to limit its ability to increase revenue.

Conference Call Details

Actions Semiconductor's management will conduct an earnings conference call offering prepared remarks on the fourth quarter and full year 2015, new products, business outlook and other matters. Although the management will not be conducting a question and answer session during the call, the Company continues to welcome written questions and comments from its shareholders.

The teleconference and webcast is scheduled to begin at 8:00 a.m. Eastern Daylight Time, on Thursday, March 31, 2016. To participate in the live call, analysts and investors should dial 1-866-598-9332 (within U.S.) or 1-480-293-0664 (outside U.S.) at least ten minutes prior to the call.  The conference ID number is 2066341. Actions Semiconductor will also offer a webcast of the conference call, accessible from the "Investor Relations" section of the Company's website at www.actions-semi.com.  An audio replay of the call will be available to investors through April 10, 2016 by dialing 1-888-203-1112 (within U.S.) or 1-719-457-0820 (outside U.S.) and entering access code 2066341.

About Actions Semiconductor

Actions Semiconductor is one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The Company is headquartered in Zhuhai, China, with offices in Shanghai, Shenzhen, Hong Kong and Taipei. For more information, please visit the Actions Semiconductor website at 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 the outlook for the worldwide semiconductor market, the future prospects for the Company's Bluetooth single chip 4.2 solutions, ability to be successful in the OTT set-top box market, customer acceptance of the Actions Semiconductor's new products and corresponding increases in market share, Actions Semiconductor's belief that it is positioned to capture some upside from its new products and Actions Semiconductor's future expectations with respect to revenue.  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:
Elaine Ketchmere, CFA                                      Ally Xie, CA, CPA
Compass Investor Relations                                Actions Semiconductor
Email Contact                             Email Contact
+1-310-528-3031                                                +86-756-3392353*1018