* Q4 non-GAAP EPS $0.19 vs $0.19 forecast
* Q4 revenue $13 million versus I/B/E/S view $13 million
* Sees Q1 non-GAAP EPS $0.13-$0.15, revenue $12 mln-$13 mln
* Shares down 10.3 pct on Nasdaq
TEL AVIV, Jan 30 Israeli mobile chip designer
Ceva Inc forecast weaker than expected earnings and
revenue in the first quarter as higher sales for smartphones
have so far failed to compensate for the decline in prices for
chips in second-generation phones.
Ceva is also suffering from a collapse in the market for
consumer electronics such as game consoles.
Shares in Ceva were down 10.3 percent to $15.88 in early
Nasdaq trade on Wednesday.
Mobile phones accounted for 91 percent of the 303 million
devices based on Ceva chips that were sold in the fourth quarter
of 2012. Of this amount, nearly 30 percent were third and fourth
generation smartphones and the rest were 2G.
Looking further ahead, Ceva said it expects growth in
royalties in the second half of 2013.
Chief Executive Gideon Wertheizer said 2012 was a
challenging year for both Ceva and the semiconductor industry,
significantly more so than was originally anticipated.
"Our licensing revenue was weaker than initially expected,
resulting from uncertainty in the macro environment and a
prolonged decision-making process by licensees for
next-generation products," he said.
Despite this, Ceva licensed its technologies to major
strategic customers and these customers are "laying the
foundation that we expect will generate future royalty revenue
Ceva forecast earnings per share excluding one-time items in
the first quarter of 13-15 cents and revenue of $12-$13 million.
Analyst on average estimated EPS of 22 cents on revenue of $14
million in the quarter, according to Thomson Reuters I/B/E/S.
Companies such as Intel, Broadcom,
Spreadtrum and ST Ericsson license
Ceva's technology to build chips known as digital signal
Ceva reported fourth-quarter earnings per share excluding
one-off items of 19 cents a diluted share, compared with 26
cents a year earlier. Revenue slid 19 percent to $13 million.
The company was forecast to earn 19 cents a share on revenue
of $13 million, according to Thomson Reuters I/B/E/S.
During the fourth quarter, Ceva bought back 243,000 of its
shares for $3.5 million, bringing the total for 2012 to $27.2