Actions Semiconductor (ACTS) Cuts Q4 Sales Guidance; Sees Breakeven EPS
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Actions Semiconductor Co., Ltd. (Nasdaq: ACTS) cuts its Q4 sales guidance from $18-$22 million to $15-$16 million, versus the consensus of $20.15 million. Also, Q4 earnings per ADS are expected to be about breakeven.
"As a result of the global economic downturn and its impact on the consumer electronics market, we have experienced decreased demand across our end-markets and are therefore revising our fourth quarter guidance. Actions is actively controlling operating costs while maintaining its continued new product development efforts. The current macroeconomic environment reinforces the need to maintain a very strong balance sheet and manage our high level of cash prudently to have maximum operating flexibility over the long-term," stated Mr. Nan-Horng Yeh, CEO of Actions Semiconductor.
Actions Semiconductor Co., Ltd., through its subsidiaries, operates as a fabless semiconductor company in the People's Republic of China.
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