CEVA, Inc. Lowers FY 2012 Guidance; Issues Q3 2012 Guidance Below Analysts' Estimates-Conference Call

CEVA, Inc. announced that for the third quarter of 2012, it expects revenue to be in the range of $11.8-$12.8 million, US GAAP EPS to be in the range of $0.11-$0.13 per share, and non-GAAP EPS, excluding the aggregate $1.3 million of equity-based compensation expenses, net of taxes, to be in the range of $0.16-$0.18 per share. The Company revised guidance for fiscal 2012 and expects total annual revenue to be in the range of $51.9-$55.9 million, US GAAP EPS to be in the range of $0.68 to $0.62 per share and excluding equity-based compensation expenses of $5.2 million, non-GAAP EPS is expected to be $0.78 to $0.82 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $57.9 million and EPS of $0.88 for fiscal 2012; revenues of $13.9 million and EPS of $0.21 for the third quarter of 2012.