ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Ceva Inc. (CEVA) on Thursday reported a fourth-quarter loss of $1.7 million, after reporting a profit in the same period a year earlier.
The Rockville, Maryland-based company said it had a loss of 7 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 11 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 11 cents per share.
The chip designer posted revenue of $29.2 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $27.5 million.
For the year, the company reported that its loss narrowed to $8.8 million, or 37 cents per share. Revenue was reported as $106.9 million.
Ceva shares have risen 0.5% since the beginning of the year. The stock has risen 45% 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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