MOUNTAIN VIEW, Calif. (AP) _ Ceva Inc. (CEVA) on Tuesday reported a second-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Mountain View, California-based company said it had a loss of 9 cents. Earnings, adjusted for stock option expense and amortization costs, came to 4 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The chip designer posted revenue of $17.5 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $19 million.
Ceva shares have fallen 29 percent since the beginning of the year. The stock has dropped 24 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CEVA at https://www.zacks.com/ap/CEVA