Ceva Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Ceva Inc. (CEVA) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $1.94 million, or $0.08 per share. This compares with $3.88 million, or $0.17 per share, in last year's fourth quarter.

Excluding items, Ceva Inc. reported adjusted earnings of $5.60 million or $0.23 per share for the period.

Analysts on average 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 fell 1.9% to $33.40 million from $34.06 million last year.

Ceva Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $1.94 Mln. vs. $3.88 Mln. last year. -EPS (Q4): $0.08 vs. $0.17 last year. -Analyst Estimates: $0.17 -Revenue (Q4): $33.40 Mln vs. $34.06 Mln last year.