CEVA, Inc. Announces First Quarter 2014 Financial Results

 

CEVA, INC. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)



March 31,

December 31,


2014

2013 (*)


Unaudited


ASSETS



Current assets:



Cash and cash equivalents

$        28,201

$        24,117

Marketable securities and short term bank deposits

107,475

110,411

Trade receivables, net

3,066

5,629

Deferred tax assets

3,278

3,457

Prepaid expenses and other current assets

3,641

1,996

Total current assets

145,661

145,610

Long-term assets:



Long term bank deposits

17,138

17,066

Severance pay fund

7,273

7,215

Deferred tax assets

1,036

955

Property and equipment, net

1,531

1,616

Goodwill

36,498

36,498

Investment in other companies

3,367

3,367

Total assets

$        212,504

$        212,327




LIABILITIES AND STOCKHOLDERS' EQUITY






Current liabilities:



Trade payables

$           622

$           1,085

Deferred revenues

800

623

Accrued expenses and other payables

10,377

10,563

Taxes Payable

1,858

1,833

Deferred tax liabilities

79

73

Total current liabilities

13,736

14,177




Accrued severance pay

7,383

7,255




Total liabilities

21,119

21,432




Stockholders' equity:



Common stock:

21

21

Additional paid in-capital

206,107

204,415

Treasury stock

(43,678)

(41,005)

Accumulated other comprehensive loss

(56)

(81)

Retained earnings

28,991

27,545

Total stockholders' equity

191,385

190,895

Total liabilities and stockholders' equity

$    212,504

$    212,327


(*) Derived from audited financial statements





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