February 6, 2018 / 12:41 PM / a year ago

Israeli chip firm Ceva Q4 profit dips, meets estimates

JERUSALEM, Feb 6 (Reuters) - Israeli chip designer Ceva Inc reported lower quarterly profit that were in line with estimates on Tuesday, weighed down by higher research and development and other expenses.

Ceva earned 25 cents per diluted share excluding one-time items in the fourth quarter, compared with 32 cents a share a year earlier. Revenue rose 2 percent to $21.6 million.

The company, a licensor of signal processing platforms and artificial intelligence processors, was forecast to make profit of 25 cents a share on revenue of $21.2 million, according to Thomson Reuters I/B/E/S.

Ceva said it signed 13 licensing agreements in the final three months of 2017 with a sequential increase in royalties. Among them was a development agreement with a large automotive manufacturer for the next generation its NeuPro AI processor used in autonomous driving systems.

In all of 2017, Ceva forged 45 licensing deals, boosting its licensing revenue growth up 35 percent. (Reporting by Steven Scheer, Editing by Ari Rabinovitch)

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