Ceva Q1 Loss Widens

(RTTNews) - Ceva, Inc. (CEVA) Thursday announced a wider net loss for the first quarter on reduced revenues, compared to the prior year.

The quarterly loss was $5.45 million, compared to $4.87 million in the previous year. On a per share, loss was $0.23, wider than loss of $0.21 last year. On an adjusted basis, loss was $1.26 million or $0.05 per share.

On average, 6 analysts polled by Thomson Reuters expected the company to earn $0.03 per share. Analysts estimates usually exclude special items.

Revenue for the first quarter declined to $22.07, from $26.26 in the prior year. Analysts were looking for revenue of $23.13 million.

Currently, shares are at $21.17, gaining more than 1.88 percent on the Nasdaq.