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CEVA Reports Lower Q1 Earnings, Revenue Climbs

05/10/2021 03:45

07:36 AM EDT, 05/10/2021 (MT Newswires) -- CEVA (CEVA) reported Monday $0.01 in Q1 adjusted EPS that slipped from $0.11 a year ago.

Analysts polled by Capital IQ were expecting earnings of $0.06 a share.

Revenue, meanwhile, increased to $25.4 million from $23.6 million in Q1 2020, the wireless connectivity and smart sensing technologies licensor said.

The Capital IQ mean for the company's Q1 revenue stood at $24 million. CEVA said it saw a 21% increase in royalty revenue during the period, while licensing and related revenue was down 1%.

In a separate statement, the company announced a deal to acquire chip design specialist Intrinsix for about $33 million in cash. The company said the buyout will expand its market reach into the sustainable aerospace and defense markets, and that the transaction is expected to close in Q2.

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