CEVA, Inc. Announces Fourth Quarter and Year End 2019 Financial Results

Yaniv Arieli, Chief Financial Officer of CEVA, stated: "We reached a number of financial and business milestones in 2019 as our diversification strategy continued to drive growth. We surpassed 1 billion CEVA-powered unit shipments reported by our customers as we ended the year with a record 360 million unit shipments in the fourth quarter alone. We invested $21 million in the expansion of our business and our addressable markets with the acquisition of the Hillcrest Labs sensor fusion business and the technology investment in Immervision. We also purchased approximately $9.1 million of our common stock through our stock buyback program in 2019. Indeed, the Board of Directors authorized the expansion of the Company's share repurchase program with an additional 700,000 shares of common stock available for repurchase.  As of December 31, 2019, CEVA's cash and cash equivalent balances, marketable securities and bank deposits totaled $150 million, with no debt."

CEVA Conference Call

On February 18, 2020, CEVA management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter.

The conference call will be available via the following dial in numbers:

  • U.S. Participants: Dial 1-844-435-0316 (Access Code: CEVA)
  • International Participants: Dial +1-412-317-6365 (Access Code: CEVA)

The conference call will also be available live via webcast at the following link: https://www.webcaster4.com/Webcast/Page/984/32718. Please go to the web site at least fifteen minutes prior to the call to register, download and install any necessary audio software.

For those who cannot access the live broadcast, a replay will be available by dialing +1-877-344-7529 or +1-412-317-0088 (access code: 10138027) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on February 28, 2020. The replay will also be available at CEVA's web site at www.ceva-dsp.com.

About CEVA, Inc.

CEVA is the leading licensor of wireless connectivity and smart sensing technologies. We offer Digital Signal Processors, AI processors, wireless platforms and complementary software for sensor fusion, image enhancement, computer vision, voice input and artificial intelligence, all of which are key enabling technologies for a smarter, connected world. We partner with semiconductor companies and OEMs worldwide to create power-efficient, intelligent and connected devices for a range of end markets, including mobile, consumer, automotive, robotics, industrial and IoT. Our ultra-low-power IPs include comprehensive DSP-based platforms for 5G baseband processing in mobile and infrastructure, advanced imaging and computer vision for any camera-enabled device and audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For sensor fusion, our Hillcrest Labs sensor processing technologies provide a broad range of sensor fusion software and IMU solutions for AR/VR, robotics, remote controls, and IoT. For artificial intelligence, we offer a family of AI processors capable of handling the complete gamut of neural network workloads, on-device. For wireless IoT, we offer the industry's most widely adopted IPs for Bluetooth (low energy and dual mode), Wi-Fi 4/5/6 (802.11n/ac/ax) and NB-IoT. Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube, Facebook, LinkedIn and Instagram.

Forward Looking Statement

This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of CEVA to differ materially from those expressed or implied by such forward-looking statements and assumptions.  Forward-looking statements include Mr. Wertheizer's statements that in 2020, CEVA is expected to continue its top-line revenue growth, driven by strong momentum in licensing and expansion in royalties from non-handset baseband products. The risks, uncertainties and assumptions that could cause differing CEVA results  include: the ability of the CEVA DSP cores and other technologies to continue to be strong growth drivers for us; our success in penetrating new markets, including in non-baseband markets, and maintaining our market position in existing markets; our ability to diversify the company's royalty streams, the ability of products incorporating our technologies to achieve market acceptance, the maturation of the connectivity, IoT and 5G markets, the effect of intense industry competition and consolidation, global chip market trends, the possibility that markets for CEVA's technologies may not develop as expected or that products incorporating our technologies do not achieve market acceptance; our ability to timely and successfully develop and introduce new technologies; and general market conditions and other risks relating to our business, including, but not limited to, those that are described from time to time in our SEC filings.  CEVA assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

 

CEVA, INC. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME – U.S. GAAP

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



Three months ended

Year ended


December 31,

December


2019

2018

2019

2018


Unaudited

Revenues:





Licensing and related revenues

$  14,806

$  10,539

$    47,890

$    40,446

Royalties

13,506

10,862

39,262

37,431






Total revenues

28,312

21,401

87,152

77,877






Cost of revenues

2,823

1,985

10,106

7,951






Gross profit

25,489

19,416

77,046

69,926






Operating expenses:





Research and development, net

14,250

11,999

52,843

47,755

Sales and marketing

3,554

2,859

12,363

12,161

General and administrative

3,481

2,161

11,841

10,354

Amortization of intangible assets

746

225

1,923

901






Total operating expenses

22,031

17,244

78,970

71,171






Operating income (loss)

3,458

2,172

(1,924)

(1,245)

Financial income, net

992

883

3,291

3,418

Revaluation of investment in other company 

(870)

(870)






Income before taxes on income

4,450

2,185

1,367

1,303

Income taxes (benefit)

1,388

(118)

1,339

729






Net income

$3,062

$2,303

$28

$574






Basic net income per share

$0.14

$0.11

$0.00

$0.03

Diluted net income per share

$0.14

$0.10

$0.00

$0.03

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





Basic

21,920

21,863

21,932

22,034

Diluted

22,373

22,197

22,323

22,503


« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise