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CEVA INC FILES (8-K) Disclosing Results of Operations and Financial Condition, Financial Statements and Exhibits

July 31, 2014


On July 31, 2014, CEVA, Inc. (the "Company") announced its financial results for the quarter ended June 30, 2014. A copy of the press release, dated July 31, 2014, is attached and filed herewith as Exhibit 99.1. This information, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing.

In addition to the disclosure of financial results for the quarters ended June 30, 2014 and 2013 in accordance with generally accepted accounting principles in the United States ("GAAP"), the press release also included non-GAAP net income and diluted earnings per share (EPS) figures that excluded (i) for the quarters ended June 30, 2014 and 2013, equity-based compensation expenses for the respective periods and (ii) for the quarter ended June 30, 2014, transaction expenses, net of taxes, associated with an acquisition.

The Company believes that the reconciliation of financial measures in the press release is useful to investors in analyzing the results for the quarters and years ended June 30, 2014 and 2013 because the exclusion of such expenses may provide a more meaningful analysis of the Company's core operating results and comparison of quarterly results. Further, the Company believes it is useful for investors to understand how the expenses associated with the application of FASB ASC No. 718 are reflected on its statements of income. The reconciliation of financial measures should be reviewed in addition to and in conjunction with results presented in accordance with GAAP, and are intended to provide additional insight into the Company's operations that, when viewed with its GAAP results and the accompanying reconciliation, offer a more complete understanding of factors and trends affecting the Company's business. The reconciliation of financial measures should not be viewed as a substitute for the Company's reported GAAP results.


(d) Exhibits. 99.1 Press Release of CEVA, Inc., dated July 31, 2014.


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Source: Edgar Glimpses

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