CEVA, Inc. Announces Third Quarter 2018 Financial Results

 

CEVA, INC. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME – U.S. GAAP


U.S. dollars in thousands, except per share data


Three months ended

Nine months ended


September 30,

September 30,


2018

2017

2018

2017


Unaudited

Revenues:





Licensing and related revenues

$     9,786

$14,021

$29,907

$33,893

Royalties

11,627

10,023

26,569

32,013






Total  revenues

21,413

24,044

56,476

65,906






Cost of revenues

2,006

1,726

5,966

5,030






Gross profit

19,407

22,318

50,510

60,876






Operating expenses:





Research and development, net

11,897

10,031

35,756

30,413

Sales and marketing

2,727

3,057

9,302

9,422

General and administrative

2,406

2,711

8,193

7,388

Amortization of intangible assets

225

309

676

927






Total operating expenses

17,255

16,108

53,927

48,150






Operating income (loss)

2,152

6,210

(3,417)

12,726

Financial income, net

831

821

2,535

2,147






Income (loss) before taxes on income

2,983

7,031

(882)

14,873

 Income taxes expense

440

1,181

847

1,008






Net income (loss)

$  2,543

$ 5,850

$ (1,729)

$13,865






Basic net income (loss) per share

$0.12

$0.27

($0.08)

$0.64

Diluted net income per share

$0.11

$0.26

($0.08)

$0.62

Weighted-average number of Common Stock used in computation of net income per share (in thousands):





Basic

21,997

21,946

22,091

21,687

Diluted

22,428

22,683

22,091

22,480


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