ParthusCeva issues conservative outlook for 2003

ParthusCeva, the entity resulting from the recent merger between Irish company, Parthus and Israeli based Ceva has issued what it describes as a 'conservative' outlook for the coming year.

ParthusCeva has recently been involved in streamlining its product lines in a bid to enhance its strategic focus and cut costs.

Its Radio Frequency and hardware based security acceleration divisions were discontinued in September as part of this move. However, according to the company, the move, along with merger-related cost efficiencies will now save the company up to €16m annually as the company focuses on three product offerings.