CEVA, INC. AND ITS SUBSIDIARIES | ||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME – U.S. GAAP | ||||
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U.S. dollars in thousands, except per share data | ||||
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| Three months ended | Nine months ended | ||
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| September 30, | September 30, | ||
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| 2018 | 2017 | 2018 | 2017 |
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| Unaudited | |||
Revenues: |
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Licensing and related revenues | $ 9,786 | $14,021 | $29,907 | $33,893 |
Royalties | 11,627 | 10,023 | 26,569 | 32,013 |
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Total revenues | 21,413 | 24,044 | 56,476 | 65,906 |
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Cost of revenues | 2,006 | 1,726 | 5,966 | 5,030 |
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Gross profit | 19,407 | 22,318 | 50,510 | 60,876 |
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Operating expenses: |
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Research and development, net | 11,897 | 10,031 | 35,756 | 30,413 |
Sales and marketing | 2,727 | 3,057 | 9,302 | 9,422 |
General and administrative | 2,406 | 2,711 | 8,193 | 7,388 |
Amortization of intangible assets | 225 | 309 | 676 | 927 |
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Total operating expenses | 17,255 | 16,108 | 53,927 | 48,150 |
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Operating income (loss) | 2,152 | 6,210 | (3,417) | 12,726 |
Financial income, net | 831 | 821 | 2,535 | 2,147 |
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Income (loss) before taxes on income | 2,983 | 7,031 | (882) | 14,873 |
Income taxes expense | 440 | 1,181 | 847 | 1,008 |
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Net income (loss) | $ 2,543 | $ 5,850 | $ (1,729) | $13,865 |
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Basic net income (loss) per share | $0.12 | $0.27 | ($0.08) | $0.64 |
| Diluted net income per share | $0.11 | $0.26 | ($0.08) | $0.62 |
| Weighted-average number of Common Stock used in computation of net income per share (in thousands): |
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| Basic | 21,997 | 21,946 | 22,091 | 21,687 |
| Diluted | 22,428 | 22,683 | 22,091 | 22,480 |
