Ceva Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Ceva Inc. (CEVA) released earnings for third quarter that dropped from the same period last year.

The company's earnings totaled $2.54 million, or $0.11 per share. This compares with $5.85 million, or $0.26 per share, in last year's third quarter.

Excluding items, Ceva Inc. reported adjusted earnings of $5.20 million or $0.23 per share for the period.

Analysts had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.9% to $21.41 million from $24.04 million last year.

Ceva Inc. earnings at a glance:

-Earnings (Q3): $5.20 Mln. vs. $8.29 Mln. last year. -EPS (Q3): $0.23 vs. $0.36 last year. -Analysts Estimate: $0.20 -Revenue (Q3): $21.41 Mln vs. $24.04 Mln last year.