Ceva Inc. Q3 adjusted earnings Beat Estimates

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

The company's profit totaled $0.78 million, or $0.03 per share. This compares with $2.54 million, or $0.11 per share, in last year's third quarter.

Excluding items, Ceva Inc. reported adjusted earnings of $5.08 million or $0.22 per share for the period.

Analysts had expected the company to earn $0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.6% to $23.47 million from $21.41 million last year.

Ceva Inc. earnings at a glance:

-Earnings (Q3): $5.08 Mln. vs. $5.20 Mln. last year. -EPS (Q3): $0.22 vs. $0.23 last year. -Analysts Estimate: $0.17 -Revenue (Q3): $23.47 Mln vs. $21.41 Mln last year.