Ceva: Q3 Earnings Snapshot

ROCKVILLE, Md. (AP) _ Ceva Inc. (CEVA) on Tuesday reported a loss of $167,000 in its third quarter.

On a per-share basis, the Rockville, Maryland-based company said it had a loss of 1 cent. Earnings, adjusted for stock option expense and amortization costs, were 20 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The chip designer posted revenue of $32.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $31 million.

Ceva shares have climbed 8% since the beginning of the year. The stock has climbed 17% in the last 12 months.

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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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