Connected device licensor CEVA, Inc. (NASDAQ: CEVA) revenues for the fourth quarter of 2016 were approximately USD21.2m, an all-time high, and above the high end of the company´s previously issued revenue guidance of USD18.5 to USD19.5m, the company said.
Earnings per share exceeded the previously stated guidance range on a GAAP basis and on a non-GAAP basis.
Strong licensing demand across the CEVA technology portfolio generated more than USD8m in licensing revenue for the quarter.
On royalties, a one-time catch-up payment of approximately USD1.1m from a handset baseband customer relating to prior quarters, along with good demand for CEVA-powered products, drove royalty revenue close to USD13m for the quarter.
CEVA is a licensor of signal processing IP for a smarter, connected world.