ParthusCeva announces revenue increase

ParthusCeva announced its results for the third quarter.

During the quarter, total revenue increased to $9.3m (€7.9m), up from $9.1m (€7.8m) in the second quarter.

It achieved particularly strong growth in royalty revenue, which was $1.2m (€1m), an increase of 37% quarter-on-quarter.

The company had a net loss of $1.1m (€1m), compared with a net income in the second quarter of $32,000 (€27,000), but this was due to restructuring charges and excluding these, net income in the third quarter was $286,000 (€244,000).

Gross margins were 85%, compared with 82% in the second quarter.

During the quarter, PartushCeva signed five new licence agreements covering a range of DSP and platform-IP technologies.

It announced licensing agreements with semiconductor companies STMicroelectronics, Infineon and others.

The increase in royalty revenues shows that licensees are shipping more solutions powered by ParthusCeva technology, especially in the wireless sector.