|
Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures | ||
|
U.S. Dollars in thousands, except per share amounts | ||
|
| ||
|
|
Quarter ended | |
|
|
March 31, | |
|
|
2018 |
2017 |
|
|
Unaudited |
Unaudited |
|
GAAP net income (loss) |
(2,182) |
4,107 |
|
Equity-based compensation expense included in cost of revenues |
157 |
91 |
|
Equity-based compensation expense included in research and development expenses |
1,269 |
871 |
|
Equity-based compensation expense included in sales and marketing expenses |
454 |
289 |
|
Equity-based compensation expense included in general and administrative expenses |
891 |
698 |
|
Income tax benefit related to equity-based compensation expenses |
(129) |
(115) |
|
Amortization of intangible assets related to RivieraWaves transaction and in 2018 NB-IoT technologies |
359 |
309 |
|
Non-GAAP net income |
$ 819 |
$ 6,250 |
|
|
|
|
|
GAAP weighted-average number of Common Stock used in computation of diluted net income (loss) per share (in thousands) |
22,148 |
22,187 |
|
Weighted-average number of shares related to outstanding stock-based awards (in thousands) |
968 |
362 |
|
|
|
|
|
Weighted-average number of Common Stock used in computation of diluted earnings per share, excluding the above (in thousands ) |
23,116 |
22,549 |
|
|
|
|
|
|
|
|
|
GAAP diluted earnings (loss) per share |
($ 0.10) |
$ 0.19 |
|
Equity-based compensation expense, net of taxes |
$ 0.12 |
$ 0.08 |
|
Amortization of intangible assets related to RivieraWaves transaction and in 2018 NB-IoT technologies |
$ 0.02 |
$ 0.01 |
|
Non-GAAP diluted earnings per share |
$ 0.04 |
$ 0.28 |
|
|
|
|
|
CEVA, INC. AND ITS SUBSIDIARIES | ||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
|
| ||
|
(U.S. Dollars in thousands) | ||
|
| ||
|
|
March 31, |
December 31, |
|
|
2018 |
2017 (*) |
|
|
Unaudited |
Unaudited |
|
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ 18,382 |
$ 21,739 |
|
Marketable securities and short term bank deposits |
118,481 |
117,096 |
|
Trade receivables, net |
13,902 |
14,480 |
|
Accrued revenue |
9,425 |
2,014 |
|
Prepaid expenses and other current assets |
4,136 |
3,747 |
|
Total current assets |
164,326 |
159,076 |
|
Long-term assets: |
|
|
|
Bank deposits |
45,967 |
44,518 |
|
Severance pay fund |
9,086 |
8,910 |
|
Deferred tax assets |
4,085 |
3,643 |
|
Property and equipment, net |
6,805 |
6,926 |
|
Goodwill |
46,612 |
46,612 |
|
Intangible assets, net |
3,583 |
1,742 |
|
Other long term assets |
6,078 |
5,385 |
|
Total assets |
$ 286,542 |
$ 276,812 |
|
| ||
|
LIABILITIES AND STOC KHOLDERS' EQUITY | ||
|
| ||
|
Current liabilities: |
|
|
|
Trade payables |
$ 499 |
$ 392 |
|
Deferred revenues |
4,973 |
4,399 |
|
Accrued expenses and other payables |
18,071 |
18,004 |
|
Total current liabilities |
23,543 |
22,795 |
|
|
|
|
|
Long-term liabilities: |
|
|
|
Accrued severance pay |
9,784 |
9,347 |
|
Accrued Liabilities |
400 |
- |
|
Total liabilities |
33,727 |
32,142 |
|
|
|
|
|
Stockholders' equity: |
|
|
|
Common stock: |
22 |
22 |
|
Additional paid in-capital |
217,923 |
217,417 |
|
Treasury stock |
(24,146) |
(26,056) |
|
Accumulated other comprehensive loss |
(1,188) |
(586) |
|
Retained earnings |
60,204 |
53,873 |
|
Total stockholders' equity |
252,815 |
244,670 |
|
Total liabilities and stockholders' equity |
$ 286,542 |
$ 276,812 |
|
|
|
(*) Derived from audited financial statements |
