ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Ceva Inc. (CEVA) on Wednesday reported a loss of $3.3 million in its first quarter.
On a per-share basis, the Rockville, Maryland-based company said it had a loss of 14 cents. Earnings, adjusted for stock option expense and amortization costs, were 6 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The chip designer posted revenue of $24.2 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $26.6 million.
Ceva shares have declined 16% since the beginning of the year. The stock has risen 26% 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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