Ceva: 3Q Earnings Snapshot
MOUNTAIN VIEW, Calif. (AP) _ Ceva Inc. (CEVA) on Thursday reported third-quarter net income of $2.5 million.
On a per-share basis, the Mountain View, California-based company said it had profit of 11 cents. Earnings, adjusted for stock option expense and amortization costs, were 23 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The chip designer posted revenue of $21.4 million in the period, matching Street forecasts.
Ceva shares have fallen 45 percent since the beginning of the year. The stock has decreased 44 percent in the last 12 months.