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ROCKVILLE, Md. (AP) _ Ceva Inc. (CEVA) on Wednesday reported a loss of $22.3 million in its third quarter.
On a per-share basis, the Rockville, Maryland-based company said it had a loss of 96 cents. Earnings, adjusted for pretax expenses and amortization costs, came to 20 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The chip designer posted revenue of $33.7 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $34.9 million.
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Ceva shares have dropped 32% since the beginning of the year. The stock has fallen 40% 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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