Ceva Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Ceva Inc. (CEVA) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $3.88 million, or $0.17 per share. This compares with $0.64 million, or $0.03 per share, in last year's fourth quarter.

Excluding items, Ceva Inc. reported adjusted earnings of $5.31 million or $0.22 per share for the period.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.0% to $34.06 million from $28.15 million last year.

Ceva Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $3.88 Mln. vs. $0.64 Mln. last year. -EPS (Q4): $0.17 vs. $0.03 last year. -Analyst Estimate: $0.19 -Revenue (Q4): $34.06 Mln vs. $28.15 Mln last year.