Ceva shows slight gain

28 Jan 2004

Semiconductor component maker Ceva Inc (formerly Parthus Ceva) has posted revenues of US$9.6m in the fourth quarter ending 31 December 2003, compared with US$9.3m in the previous quarter. Licensing revenues were marginally better at US$6.6m (Q3: US$6.5m) while royalty revenues increased to US$1.4m (Q3: US$1.2m).

However, the company shipped a net loss in the quarter of US$9.6m or US$0.53 net loss per share, compared with a net loss of US$1.1m or US$0.06 net loss per share in the third quarter. This was largely due to charges incurred as part of a cost-cutting programme. Excluding the restructuring charge, net loss in the fourth quarter was US$500,000 or US$0.03 per share.

The company held US$59.1m in cash at the end of the quarter.

The company also reported full-year results showing total revenues for 2003 of US$36.8m. Licensing revenues for the year were US$25.7m and royalty revenues were US$4.1m. The remaining US$7m revenues was derived from services and consulting.

“The fourth quarter was very successful on many fronts. We achieved our best ever performance in DSP [digital signal processing] licensing and again recorded good growth in royalties, which grew 23pc over the third quarter,” said Chet Silvestri, president and CEO of CEVA. “In the fourth quarter we also launched our CEVA-X DSP architecture, which we have now licensed to two industry leaders in the wireless market. In addition, our realignment program is resulting in a more cost-efficient company, positioned to expand our leadership in the high-growth DSP market.”

By Brian Skelly