CEVA, Inc. Announces Third Quarter 2017 Financial Results


CEVA, INC. AND ITS SUBSIDIARIES


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,


2017

2016

2017

2016


Unaudited

Revenues:





Licensing and related revenues

$  14,021

$  7,456

$    33,893

$    23,576

Royalties

10,023

10,390

32,013

27,881






Total revenues

24,044

17,846

65,906

51,457






Cost of revenues

1,726

1,422

5,030

4,453






Gross profit

22,318

16,424

60,876

47,004






Operating expenses:





Research and development, net

10,031

7,346

30,413

23,071

Sales and marketing

3,057

2,763

9,422

8,463

General and administrative

2,711

2,218

7,388

6,286

Amortization of intangible assets

309

309

927

927






Total operating expenses

16,108

12,636

48,150

38,747






Operating income

6210

3,788

12,726

8,257

Financial  income , net

821

615

2,147

1,617






Income  before taxes on income

7,031

4,403

14,873

9,874

 Income taxes 

1,181

1,015

1,008

1,975






Net income

5,850

3,388

13,865

7,899






Basic net income per share

$0.27

$0.16

$0.64

$0.38

Diluted  net income per share

$0.26

$0.15

$0.62

$0.37

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





Basic

21,946

21,025

21,687

20,718

Diluted

22,683

21,883

22,480

21,395


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