CEVA Q3 Profit Rises; Records High Licensing, NRE And Related Revenue

(RTTNews) - CEVA, Inc. (CEVA, CVA.L) said it recorded strong financial performance in the third quarter, with the highest revenue quarter for the company to date. CEVA said the integration of its IP business together with new Intrinsix chip design business continues to progress smoothly. Looking forward, the company said it is on track to meet financial goals for the year while continuously working with customers to mitigate possible implications of the supply chain constraints.

For the third quarter of 2021, non-GAAP net income per share increased to $0.20 from $0.16, last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.17, for the quarter. Analysts' estimates typically exclude special items.

GAAP net loss was $0.2 million, compared to a GAAP net loss of $0.7 million, last year. GAAP loss per share was $0.01, compared to a loss of $0.03.

Total revenue was $32.8 million, a 31% increase compared to $25.0 million, a year ago. Analysts on average had estimated $31.24 million in revenue. Licensing, non-recurring engineering and related revenue was $21.6 million, an increase of 74%.