CEVA, INC. Form 8-K Summary
Business Context and Reporting Period
CEVA, Inc. filed this Current Report on Form 8-K on May 2, 2016, to announce financial results for the quarter ended March 31, 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 net income and diluted earnings per share (EPS) figures for the quarters ended March 31, 2016, and 2015.
Material Changes and Non-GAAP Adjustments
The Company presented non-GAAP financial measures that excluded the following items to provide a view of core operating results:
- Equity-based compensation expenses.
- The impact of amortization of acquired intangibles and other costs, net of taxes, associated with the acquisition of RivieraWaves.
The filing states that these exclusions are intended to facilitate comparison of quarterly results and analysis of expenses under FASB ASC No. 718.
Guidance, Outlook, and Risks
The filing text does not contain specific guidance, outlook, management commentary on future trends, or a list of risks and contingencies. It notes that the non-GAAP reconciliation should be reviewed in conjunction with GAAP results and is not a substitute for them.
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 costs.
- Compare the March 31, 2016 results against the March 31, 2015 period as detailed in the press release.
- Confirm the reconciliation table between GAAP and non-GAAP measures provided in the attached exhibit.