TEL AVIV May 4 Israeli chip designer Ceva
reported on Thursday
a rise in profit and revenue in the first quarter, during which
it completed 11 license agreements, including five in China.
Ceva earned 28 cents per share excluding one-time items in
the quarter, up from 17 cents a year earlier. It reported a 29
percent rise in quarterly revenue to $21.3 million.
Analysts on average expected Ceva to earn 28 cents a share
on revenue of $21 million, according to Thomson Reuters
"Our strongest licensing quarter in the company's history
helped to deliver a fifth record revenue quarter in succession,"
Ceva CEO Gideon Wertheizer said.
The company's customers shipped a record 352 million chips
based on Ceva's technology, resulting in 50 percent royalty
(Reporting by Tova Cohen)