CEVA, INC. (NASDAQ:CEVA) Files An 8-K Results of Operations and Financial Condition
ITEM2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On May4, 2017, CEVA, Inc. (the Company) announced its financial
results for the quarter ended March31, 2017. A copy of the press
release, dated May4, 2017, is attached and filed herewith as
Exhibit 99.1. This information, including Exhibit 99.1 attached
hereto, shall not be deemed filed for purposes of Section18 of
the Securities Act of 1934, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference to
such filing.
In addition to the disclosure of financial results for the
quarters ended March31, 2017 and 2016 in accordance with
generally accepted accounting principles in the United States
(GAAP), the press release also included non-GAAP net income and
diluted earnings per share (EPS) figures for the quarters ended
March31, 2017 and 2016 that excluded (i)equity-based compensation
expenses, net of taxes, for the respective periods, and (ii)the
impact of the amortization of acquired intangibles associated
with the Companys acquisition of RivieraWaves.
The Company believes that the reconciliation of financial
measures in the press release is useful to investors in analyzing
the results for the quarters and years ended March31, 2017 and
2016 because the exclusion of such expenses may provide a more
meaningful analysis of the Companys core operating results and
comparison of quarterly results. Further, the Company believes it
is useful for investors to understand how the expenses associated
with the application of FASB ASC No.718 are reflected on its
statements of income. The reconciliation of financial measures
should be reviewed in addition to and in conjunction with results
presented in accordance with GAAP, and are intended to provide
additional insight into the Companys operations that, when viewed
with its GAAP results and the accompanying reconciliation, offer
a more complete understanding of factors and trends affecting the
Companys business. The reconciliation of financial measures
should not be viewed as a substitute for the Companys reported
GAAP results.
ITEM9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
| 99.1 | Press Release of CEVA, Inc., dated May4, 2017. |
About CEVA, INC. (NASDAQ:CEVA)
CEVA, Inc. (CEVA) is a licensor of signal processing intellectual property (IP). The Company partners with semiconductor companies and original equipment manufacturers (OEMs) to create connected devices for a range of end markets, including mobile, consumer, automotive, industrial and Internet of things (IoT). The Company operates in the segment of licensing of intellectual property to semiconductor companies and electronic equipment manufacturers. It addresses the requirements of the mobile, consumer, automotive, industrial and IoT markets by designing and licensing application-specific signal processing platforms, which enable the design of solutions for developing a range of applications, including communications and connectivity, audio and voice, imaging and vision, and storage. It has research and development facilities in Israel, France, Ireland and the United Kingdom, and sales and support offices throughout Asia Pacific, Japan, Sweden, France, Israel and the United States. CEVA, INC. (NASDAQ:CEVA) Recent Trading Information
CEVA, INC. (NASDAQ:CEVA) closed its last trading session down -0.40 at 36.20 with 219,797 shares trading hands.