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ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Ceva Inc. (CEVA) on Wednesday reported a loss of $4.9 million in its first quarter.
On a per-share basis, the Rockville, Maryland-based company said it had a loss of 21 cents. Earnings, adjusted for stock option expense and amortization costs, came to less than 1 cent on a per-share basis.
The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The chip designer posted revenue of $28.7 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $31.2 million.
Ceva shares have declined almost 3% since the beginning of the year. The stock has decreased 27% 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 CEVA">Zacks stock report on CEVA at https://www.zacks.com/ap/CEVA