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ROCKVILLE, Md. (AP) _ Ceva Inc. (CEVA) on Monday reported a loss of $3.6 million in its first quarter.
On a per-share basis, the Rockville, Maryland-based company said it had a loss of 16 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 1 cent per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The chip designer posted revenue of $25.4 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $23.9 million.
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Ceva shares have climbed 15% since the beginning of the year. The stock has risen 55% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CEVA at https://www.zacks.com/ap/CEVA
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