CEVA, INC. Form 8-K Summary
Business Context and Reporting Period
CEVA, Inc. filed this Current Report on Form 8-K on August 3, 2016, to announce financial results for the quarter ended June 30, 2016. The filing references a press release (Exhibit 99.1) containing the detailed results.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms that the attached press release contains both GAAP and non-GAAP financial measures, including net income and diluted earnings per share (EPS).
Material Changes and Non-GAAP Adjustments
The company presented non-GAAP figures for the quarters ended June 30, 2016, and June 30, 2015, to facilitate comparison of core operating results. The non-GAAP adjustments excluded the following items, net of taxes:
- Equity-based compensation expenses.
- Amortization of acquired intangibles associated with the RivieraWaves SAS acquisition.
- Other costs associated with the RivieraWaves Acquisition (specifically for the 2015 period).
The filing states that these exclusions are intended to provide a more meaningful analysis of trends but should not be viewed as a substitute for GAAP results.
Guidance, Outlook, and Risks
The filing text does not contain specific guidance, outlook, management commentary, or risk factors beyond the standard disclosure that non-GAAP measures are supplemental to GAAP results. The company notes that the reconciliation of financial measures is useful for understanding the impact of FASB ASC No. 718 on its statements of income.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific GAAP and non-GAAP revenue, net income, and EPS figures.
- Verify the specific dollar amounts excluded for equity-based compensation and RivieraWaves acquisition amortization.
- Compare the non-GAAP reconciliation table against the GAAP financial statements to assess the magnitude of adjustments.
- Confirm if the press release includes updated forward-looking guidance or commentary on the RivieraWaves integration.