Ceva Inc. Q4 Profit Increases, beats estimates

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

The company's earnings came in at $3.77 million, or $0.16 per share. This compares with $1.94 million, or $0.08 per share, in last year's fourth quarter.

Excluding items, Ceva Inc. reported adjusted earnings of $2.38 million or $0.10 per share for the period.

Analysts on average had expected the company to earn $0.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.4% to $24.16 million from $30.35 million last year.

Ceva Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $3.77 Mln. vs. $1.94 Mln. last year. -EPS (Q4): $0.16 vs. $0.08 last year. -Analyst Estimate: $0.06 -Revenue (Q4): $24.16 Mln vs. $30.35 Mln last year.