Israeli semiconductor company Ceva Inc. (Nasdaq:CEVA); LSE:CVA) announced its fourth quarter results on Wednesday, reporting revenue of $16.1 million for the quarter 16% up from the fourth quarter of 2014. It reported total revenue of $59.5 million in 2015, 17% up on the previous year.
The company also reported its 2016 guidance and sees record $16.3 million in the first quarter and $67 million in all of 2016.
"We are extremely pleased with our strong finish for the year, as both licensing and royalty revenues delivered year-over-year growth. In royalties, our quarterly royalty revenues reached its highest total since 2012, driven by record CEVA-powered smartphone shipments of more than 92 million units,” said CEO Gideon Wertheizer.
The leading licensor of signal processing IP for connected devices reported generating $19.4 million in operating cash flow during 2015. The company also reached the high end range of its LTE shipment target 60-70 million units due to the accelerated rollout of Ceva-powered LTE smartphones in the second half of the year.
He added: "Over the course of 2015, we signed a record forty-seven licensing deals, generating all-time high licensing revenues and exceeding our internal expectations.”
CFO Yaniv Arieli said, "2015 was an outstanding year for CEVA, as we returned to top-line and bottom-line growth for the first time in three years, as well as significantly outperformed the growth rates of the smartphone market and the overall semiconductor industry. At the end of 2015, CEVA's cash and cash equivalent balances, marketable securities and bank deposits were approximately $139 million.”
Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2016
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