(CVA) CEVA

CEVA, Inc. Announces Record Fourth Quarter and Year End 2011 Financial Results

- All-time high quarterly and annual revenue of $16.0 million and $60.2
million, up 22% and 34% year-over-year, respectively

- Record quarterly and annual royalty revenue of $10.2 million and $36.4
million, up 36% and 59% year-over-year, respectively

- Record shipment volumes of CEVA technology; More than 1 billion
CEVA-powered units shipped in 2011

MOUNTAIN VIEW, Calif., Jan. 31, 2012 -- CEVA, Inc. (NASDAQ: CEVA); (LSE: CVA), the
leading licensor of silicon intellectual property (SIP) platform solutions and DSP cores
for the mobile handset, portable and consumer electronics markets, today announced its
financial results for the fourth quarter and year ended December 31, 2011.

Fourth Quarter 2011

Total revenue for the fourth quarter of 2011 was $16.0 million, which represents an
increase of 22% compared to $13.0 million reported for the fourth quarter of 2010. Fourth
quarter 2011 licensing revenue was $4.7 million, a 2% increase when compared to $4.6
million reported for the fourth quarter of 2010. Royalty revenue for the fourth quarter
of 2011 was a record $10.2 million, an increase of 36% compared to $7.5 million reported
for the fourth quarter of 2010. Revenue from services for the fourth quarter of 2011 was
$1.1 million, an increase of 19% compared to $0.9 million reported for the fourth quarter
of 2010.

U.S. GAAP net income for the fourth quarter of 2011 was $4.9 million, an increase of
15% over $4.2 million reported for the same period in 2010. U.S. GAAP diluted earnings
per share for the fourth quarter of 2011 were $0.20, an increase of 11% compared to $0.18
for the fourth quarter of 2010.

Non-GAAP net income and diluted earnings per share for the fourth quarter of 2011
were $6.4 million and $0.26, respectively, representing an increase of 47% and 37%,
respectively, over the $4.3 million and $0.19 reported for the fourth quarter of 2010.
Non-GAAP net income and diluted earnings per share for the fourth quarter of 2011 and
2010 exclude an aggregate equity-based compensation expense, net of taxes, of $1.5
million and $0.1 million, respectively.

Gideon Wertheizer, Chief Executive Officer of CEVA, stated, "During the fourth
quarter we were able to drive meaningful growth and generate significant momentum
throughout our operations, producing record-setting results. CEVA-powered cellular
baseband processor shipments increased for the twelfth consecutive quarter and continued
to drive growth for us in every segment of the wireless market, from low cost feature
phones through to 4G LTE smartphones and tablets. We also continued our strategic
expansion into new markets during the quarter with customer wins for smart TV and
connectivity applications."

Mr. Wertheizer continued, "Looking back at a very successful 2011, we delivered on
our two main strategic goals: driving strong growth of CEVA-powered baseband chipsets and
extending our technology leadership in the DSP space. Our customers shipped more than 927
million CEVA-powered basebands during the year, and more than 1 billion CEVA-based
chipsets overall. We introduced new DSP products for audio and imaging aimed to diversify
our revenue beyond baseband. We remain ideally positioned to further benefit from ongoing
market trends, specifically the evolution in cellular networks in both developed and
emerging economies, the expansion of wireless connectivity in devices beyond handsets, as
well as mass adoption and feature set enhancement of smartphones and other smart
devices."

During the fourth quarter of 2011, the Company concluded seven new license
agreements. Four of the agreements were for CEVA DSP cores, platforms, and software, two
agreements were for CEVA SATA/SAS technology and one agreement was for CEVA Bluetooth
technology. Target applications for customer deployment are TD-SCDMA baseband processors
for handsets, smart TV for emerging markets, connectivity for smartphones and solid state
drives. Geographically, two of the agreements signed were in the U.S. and five were in
Asia.

Full Year 2011 Review

Total revenue for 2011 was $60.2 million, an increase of 34% compared to $44.9
million reported for 2010. Royalty revenue for 2011 was a record high $36.4 million,
representing an increase of 59% compared to $22.9 million reported for 2010. Licensing
revenue for 2011 was $20.2 million, an increase of 10% compared to $18.4 million reported
for 2010.

U.S. GAAP net income and diluted earnings per share for 2011 were $18.6 million and
$0.77, respectively, an increase of 63% and 51%, respectively, compared to $11.4 million
and $0.51 reported for 2010.

Non-GAAP net income and diluted earnings per share for 2011 were $23.5 million and
$0.97, respectively, representing an increase of 86% and 73%, respectively, over the
$12.7 million and $0.56 reported for 2010. Non-GAAP net income and diluted earnings per
share for 2011 exclude an aggregate equity-based compensation expense, net of taxes, of
$5.0 million. Non-GAAP net income and diluted earnings per share for 2010 excluded an
aggregate equity-based compensation expense, net of taxes, of $1.3 million.

Yaniv Arieli, Chief Financial Officer of CEVA, stated, "We delivered another
exceptionally strong set of earnings in the fourth quarter, underpinned by record high
royalty revenues, which yielded strong GAAP and non-GAAP results. On an annual basis,
2011 was a record-breaking year for CEVA across every financial metric and delivered
earnings far in excess of our initial annual guidance. We concluded the year with a very
strong balance sheet, which included cash and cash equivalent balances, marketable
securities and long term bank deposits of approximately $165 million, up from $131
million at the end of 2010."

CEVA Conference Call

On January 31, 2012, CEVA management will conduct a conference call at 8:30 a.m.
Eastern Time / 1:30 p.m. London time, to discuss the operating performance for the fourth
quarter and year ended December 31, 2011.

The conference call will be available via the following dial in numbers:

- U.S. Participants: Dial 1-800-860-2442 (Access Code: CEVA)
- International Participants: Dial +1-412-858-4600 (Access Code: CEVA)

The conference call will also be available live via the Internet at the following
link: http://www.videonewswire.com/event.asp?id=84399. Please go to the web site at
least fifteen minutes prior to the call to register, download and install any necessary
audio software.

For those who cannot access the live broadcast, a replay will be available by dialing
+1-877-344-7529 or +1-412-317-0088 (access code:10008472) from one hour after the end of
the call until 9:00 a.m. (Eastern Time) on February 08, 2012. The replay will also be
available at CEVA's web site www.ceva-dsp.com.

About CEVA, Inc.

CEVA is the world's leading licensor of silicon intellectual property (SIP) DSP cores
and platform solutions for the mobile handset, portable and consumer electronics markets.
CEVA's IP portfolio includes comprehensive technologies for cellular baseband (2G / 3G /
4G), multimedia (HD video, Image Signal Processing (ISP) and HD audio), voice over packet
(VoP), Bluetooth, Serial Attached SCSI (SAS) and Serial ATA (SATA). In 2011, CEVA's IP
was shipped in over 1 billion devices, powering handsets from 7 out of the top 8 handset
OEMs, including Nokia, Samsung, LG, Motorola, Sony and ZTE. Today, more than 40% of
handsets shipped worldwide are powered by a CEVA DSP core. For more information, visit
www.ceva-dsp.com. Follow CEVA on twitter at www.twitter.com/cevadsp.

Forward Looking Statement

This press release contains forward-looking statements that involve risks and
uncertainties, as well as assumptions that if they materialize or prove incorrect, could
cause the results of CEVA to differ materially from those expressed or implied by such
forward-looking statements and assumptions. Forward-looking statements include Mr.
Wertheizer's statements that CEVA is ideally positioned to further benefit from ongoing
market trends. The risks, uncertainties and assumptions include: the ability of the CEVA
DSP cores and other technologies to continue to be strong growth drivers for us; our
success in penetrating new markets and maintaining our market position in existing
markets; the ability of products incorporating our technologies to achieve market
acceptance, the effect of intense industry competition and consolidation, global chip
market trends, the possibility that markets for our technologies may not develop as
expected or that products incorporating our technologies do not achieve market
acceptance; our ability to timely and successfully develop and introduce new
technologies; and general market conditions and other risks relating to our business,
including, but not limited to, those that are described from time to time in our SEC
filings. CEVA assumes no obligation to update any forward-looking statements or
information, which speak as of their respective dates.


CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - U.S. GAAP
U.S. dollars in thousands, except per share data

Quarter ended Year ended
December 31, December 31,
2011 2010 2011 2010
Unaudited Unaudited Unaudited Audited
Revenues:
Licensing $ 4,711 $ 4,621 $ 20,239 $ 18,395
Royalties 10,159 7,494 36,403 22,866
Other revenues 1,082 911 3,597 3,650
Total revenues 15,952 13,026 60,239 44,911
Cost of revenues 924 1,134 3,559 3,712
Gross profit 15,028 11,892 56,680 41,199
Operating expenses:
Research and development, net 5,730 4,666 21,543 17,909
Sales and marketing 2,287 2,060 8,937 7,308
General and administrative 2,096 1,399 7,649 6,108
Total operating expenses 10,113 8,125 38,129 31,325
Operating income 4,915 3,767 18,551 9,874
Interest and other income, net 873 504 2,919 2,095
Income before taxes on income 5,788 4,271 21,470 11,969
Taxes on income 935 64 2,908 591
Net income $4,853 $4,207 $18,562 $11,378
Basic earnings per share $0.21 $0.19 $0.80 $0.54
Diluted earnings per share $0.20 $0.18 $0.77 $0.51
Weighted-average number of Common
Stock
used in computation of earnings
per share
(in thousands):
Basic 23,491 22,029 23,173 21,251
Diluted 24,293 23,367 24,153 22,430



Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(U.S. Dollars in thousands, except per share amounts)

Quarter ended Year ended
December 31, December 31,
2011 2010 2011 2010
Unaudited Unaudited Unaudited Unaudited
GAAP net income 4,853 4,207 18,562 11,378
Equity-based compensation
expense included in cost of
revenue 68 21 239 77
Equity-based compensation
expense included in research
and development expenses 562 163 1,934 652
Equity-based compensation
expense included in sales and
marketing expenses 347 80 1,094 380
Equity-based compensation
expense included in general
and administrative expenses 641 207 1,891 1,023
Taxes on income (benefit) (106) (1) (342) (1) (204) (1) (842) (1)
Non-GAAP net income 6,365 4,336 23,516 12,668
GAAP weighted-average number
of Common Stock used in
computation of diluted
earnings per share (in
thousands) 24,293 23,367 24,153 22,430
Weighted-average number of
shares related to outstanding
options 9 49 16 60
Weighted-average number of
Common Stock used in
computation
of diluted earnings per
share, excluding equity-based
compensation expense and tax
(in thousands) 24,302 23,416 24,169 22,490
GAAP diluted earnings per
share $0.20 $0.18 $0.77 $0.51
Equity-based compensation
expense $0.07 $0.02 $0.21 $0.09
Taxes on income (benefit) ($0.01) ($0.01) ($0.01) ($0.04)
Non-GAAP diluted earnings per
share $0.26 $0.19 $0.97 $0.56


(1) Results for the three months and for the year ended December 31, 2011
included tax gains of $0.1 and $0.2 million, respectively, reported
in taxes on income, mainly related to tax benefits associated with
equity-based compensation. Results for the three months and for the
year ended December 31, 2010 included tax gains of $0.3 and $0.8
million, respectively, reported in taxes on income, mainly related to
tax benefits associated with equity-based compensation.



CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. Dollars in thousands)
December 31, December 31,
2011 2010
Unaudited Audited
ASSETS
Current assets:
Cash and cash equivalents $ 14,954 $ 17,098
Marketable securities and short term bank
deposits 124,458 98,681
Trade receivables, net 5,116 5,906
Deferred tax assets 2,248 1,288
Prepaid expenses and other accounts receivables 2,320 4,609
Total current assets 149,096 127,582
Long-term investments:
Long term bank deposits 25,106 15,173
Severance pay fund 5,473 5,433
Property and equipment, net 1,235 1,348
Goodwill 36,498 36,498
Other long term assets 1,732 574
Total assets $ 219,140 $ 186,608
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Trade payables $ 580 $ 616
Deferred revenues 1,074 616
Accrued expenses and other payables 10,669 10,521
Deferred tax liabilities 290 901
Total current liabilities 12,613 12,654
Accrued severance pay 5,607 5,486
Total liabilities 18,220 18,140
Stockholders' equity:
Common Stock: 24 23
Additional paid in-capital 191,945 176,838
Other comprehensive income (loss) (901) 317
Retained earnings (accumulated deficit) 9,852 (8,710)
Total stockholders' equity 200,920 168,468
Total liabilities and stockholders' equity $ 219,140 $ 186,608


SOURCE CEVA, Inc.

CONTACT: Yaniv Arieli, CEVA, Inc., CFO, +1.650.417.7941, yaniv.arieli@ceva-dsp.com;
or Richard Kingston, CEVA, Inc., Director of Marketing & Investor Relations,
+1.650.417.7976, richard.kingston@ceva-dsp.com







END

CEVA, Inc. Announces Third Quarter 2011 Financial Results

-First license agreement for CEVA-MM3000 video & imaging platform for
smartphones and smart TVs

-Quarterly volume of CEVA-powered units shipped increase for eleventh
quarter in succession, reaching 250 million

-Record high profitability - gross margins expand to 95%, operating
margins reach 32% and 41% on a US GAAP and non-GAAP basis, respectively

MOUNTAIN VIEW, Calif., Oct. 27, 2011 -- CEVA, Inc. (NASDAQ: CEVA); (LSE:
CVA), the leading licensor of silicon intellectual property (SIP) platform
solutions and DSP cores for the mobile handset, portable and consumer
electronics markets, today announced its financial results for the third
quarter ended September 30, 2011.

Total revenue for the third quarter of 2011 was $14.8 million, an
increase of 39% compared to $10.7 million reported for the third quarter of
2010. Third quarter 2011 licensing revenue was $5.2 million, representing an
increase of 17% when compared to $4.5 million reported for the same quarter
a year ago. Royalty revenue for the third quarter 2011 was $8.8 million, an
increase of 67% compared to $5.2 million reported for the third quarter of
2010. Revenue from services for the third quarter of 2011 was $0.9 million,
a decrease of 12% compared to $1 million reported for the third quarter of
2010.

Gideon Wertheizer, Chief Executive Officer of CEVA, stated, "CEVA's
strong third quarter performance reflects the continued strength of our
cellular baseband presence, as shipment volumes of CEVA-powered products
increased for the eleventh consecutive quarter, reaching 250 million units
during the quarter. We continue to see considerable interest in our diverse
technology portfolio from both existing and new customers, as evidenced by
strategic licensing agreements with a high volume semiconductor vendor for
our new CEVA-MM3000 platform to be used for smartphones and smart TVs and
with a tier one handset and tablet OEM for our audio platform."

Of the eight new license agreements concluded during the third quarter
of 2011, six agreements were for CEVA DSP cores, platforms and software, one
agreement was for CEVA SATA/SAS product lines and one agreement was for CEVA
Bluetooth technology. Target applications for customer deployment are 4G
baseband processors, video, imaging and audio in application processors,
power line communications (PLC), connectivity and solid state drives (SSDs).
Geographically, two of the agreements signed were in the U.S. and six were
in Asia Pacific, including Japan.

U.S. GAAP net income for the third quarter of 2011 was $4.9 million, an
increase of 65% over $3.0 million reported for the same period in 2010. U.S.
GAAP diluted earnings per share for the third quarter of 2011 were $0.20, an
increase of 54% compared to $0.13 for the third quarter of 2010.

Non-GAAP net income and diluted earnings per share for the third quarter
of 2011 were $6.3 million and $0.26 respectively, representing an increase
of 107% and 86%, respectively, over the $3.0 million and $0.14 reported for
the third quarter of 2010. Non-GAAP net income and diluted earnings per
share for the third quarter of 2011 and 2010 excluded an aggregate
equity-based compensation expense, net of taxes, of $1.4 million and $0.5
million, respectively.

Yaniv Arieli, Chief Financial Officer of CEVA, stated, "Our third
quarter financial performance achieved a number of significant milestones
and maintained the momentum generated during the first half of the year. We
produced record high gross margins, operating margins, non-GAAP net income
and earnings per share through a combination of solid licensing pipeline,
reflecting our excellent product portfolio, continued strength in our
royalty business and a company-wide commitment to conservative financial
management. At the end of the third quarter, our cash balance, marketable
securities and bank deposits totaled approximately $156 million."

CEVA Conference Call

On October 27, 2011, CEVA management will conduct a conference call at
8:30 a.m. Eastern Time / 1:30 p.m. London time, to discuss the operating
performance for the third quarter ended September 30, 2011.

The conference call will be available via the following dial in numbers:


- U.S. Participants: Dial 1-800-860-2442 (Access Code: CEVA or
10005147)
- International Participants: Dial +1-412-858-4600 (Access Code:
CEVA or 10005147)

The conference call will also be available live via the Internet at the
following link: http://www.videonewswire.com/event.asp?id=82668. Please
go to the web site at least fifteen minutes prior to the call to register,
download and install any necessary audio software. For those who cannot
access the live broadcast, a replay will be available by dialing
+1-877-344-7529 (passcode: 10005147) from one hour after the end of the call
until 9:00 a.m. (Eastern Time) on November 03, 2011. The replay will also be
available at CEVA's web site www.ceva-dsp.com.

About CEVA, Inc.

CEVA is the world's leading licensor of silicon intellectual property
(SIP) DSP cores and platform solutions for the mobile handset, portable and
consumer electronics markets. CEVA's IP portfolio includes comprehensive
technologies for cellular baseband (2G / 3G / 4G), multimedia, HD video and
audio, voice over packet (VoP), Bluetooth, Serial Attached SCSI (SAS) and
Serial ATA (SATA). In 2010, CEVA's IP was shipped in over 600 million
devices, powering handsets from 7 out of the top 8 handset OEMs, including
Nokia, Samsung, LG, Motorola, Sony Ericsson and ZTE. Today, more than one in
every three handsets shipped worldwide is powered by a CEVA DSP core. For
more information, visit www.ceva-dsp.com. Follow CEVA on twitter at
www.twitter.com/cevadsp.



CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - U.S. GAAP
U.S. dollars in thousands, except per share data
Quarter ended Nine months ended
September 30, September 30,
2011 2010 2011 2010
--- --- --- ---
Unaudited Unaudited Unaudited Unaudited
--------- --------- --------- ---------
Revenues:
Licensing $5,225 $4,459 $15,528 $13,774
Royalties 8,766 5,238 26,244 15,372
Other revenues 856 978 2,515 2,739
-- -- ---- ----

Total revenues 14,847 10,675 44,287 31,885
----- ----- ----- -----

Cost of revenues 811 1,001 2,635 2,578
-- ---- ---- ----

Gross profit 14,036 9,674 41,652 29,307
----- ---- ----- -----

Operating expenses:
Research and
development, net 5,158 4,129 15,813 13,243
Sales and marketing 2,099 1,664 6,650 5,248
General and
administrative 2,057 1,593 5,553 4,709
----- ----- ----- -----

Total operating
expenses 9,314 7,386 28,016 23,200
----- ----- ------ ------

Operating income 4,722 2,288 13,636 6,107
Interest and other
income, net 784 493 2,046 1,591
--- --- ----- -----

Income before income
tax 5,506 2,781 15,682 7,698
Income tax expense
(income) 571 (208) 1,973 527
--- ---- ----- ---

Net income 4,935 2,989 13,709 7,171
==== ==== ===== ====

Basic net income per
share $0.21 $0.14 $0.59 $0.34
Diluted net income
per share $0.20 $0.13 $0.57 $0.32
Weighted-average
number of Common
Stock used in
computation of net
income
per share (in
thousands):
Basic 23,390 21,244 23,065 20,989
Diluted 24,253 22,356 24,105 22,114
====== ====== ====== ======



Unaudited Reconciliation of GAAP to Non-GAAP Financial
Measures
(U.S. Dollars in thousands, except per share amounts)
Quarter ended Nine months ended
September 30, September 30,
2011 2010 2011 2010
---- ---- ---- ----
Unaudited Unaudited Unaudited Unaudited
--------- --------- --------- ---------
GAAP net income 4,935 2,989 13,709 7,171
Equity-based
compensation
expense included in
cost of revenue 61 23 171 56
Equity-based
compensation
expense included in
research and
development
expenses 510 183 1,372 489
Equity-based
compensation
expense included in
sales and marketing
expenses 291 92 747 300
Equity-based
compensation
expense included in
general and
administrative
expenses 553 239 1,250 816
Income tax expense
(income) (99)(2) (500)(1) (98)(2) (500)(1)
------ ------- ------ -------
Non-GAAP net income 6,251 3,026 17,151 8,332
===== ===== ====== =====

GAAP weighted-
average number of
Common Stock used
in computation of
diluted net income
per share (in
thousands) 24,253 22,356 24,105 22,114
Weighted-average
number of shares
related to
outstanding options 11 41 19 64
--- --- --- ---
Weighted-average
number of Common
Stock used in
computation of
diluted net income
per share,
excluding equity-
based compensation
expense and tax
income (in
thousands) 24,264 22,397 24,124 22,178


GAAP diluted net
income per share $0.20 $0.13 $0.57 $0.32
Equity-based
compensation
expense $0.06 $0.03 $0.14 $0.08
Income tax expense
(income) - $(0.02)(1) - $(0.02)(1)
--- --------- --- ---------
Non-GAAP diluted
net income per
share $0.26 $0.14 $0.71 $0.38
===== ===== ===== =====

(1) Results for the three months and the nine months ended
September 30, 2010 included $0.5 million of tax income
associated with adjustments related to international cost
allocations, as well as tax planning strategies to utilize
certain deferred tax assets.
(2) Results for the three months and the nine months ended
September 30, 2011 included $0.1 million of tax income
related to equity-based compensation expenses.



CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. Dollars in Thousands

September December
30, 31,
2011 2010
--- ---
Unaudited Audited
--------- -------
ASSETS
Current assets:
Cash and cash equivalents $22,695 $17,098
Marketable securities and short term bank
deposits 114,537 98,681
Trade receivables, net 4,485 5,906
Deferred tax assets 1,973 1,288
Prepaid expenses and other accounts
receivables 4,508 4,609
----- -----
Total current assets 148,198 127,582
------ ------

Long-term investments: 18,369 15,173
Long-term bank deposits
Severance pay fund 5,525 5,433
Deferred tax assets 893 574
Property and equipment, net 1,192 1,348
Goodwill 36,498 36,498
----- -----
Total assets $210,675 $186,608
======== ========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
Trade payables $562 $616
Deferred revenues 1,450 616
Accrued expenses and other payables 9,353 10,521
Deferred tax liabilities 136 901
-- --
Total current liabilities 11,501 12,654

Accrued severance pay 5,782 5,486


Total liabilities 17,283 18,140
----- -----

Stockholders' equity:
Common Stock 23 23
Additional paid in-capital 189,256 176,838
Accumulated other comprehensive income
(loss) (886) 317
Accumulated income (deficit) 4,999 (8,710)
---- ------
Total stockholders' equity 193,392 168,468
------ ------
Total liabilities and stockholders' equity $210,675 $186,608
======== ========
SOURCE CEVA, Inc.

CONTACT: Yaniv Arieli, CEVA, Inc., CFO, +1-650-417-7941,
yaniv.arieli@ceva-dsp.com, or Richard Kingston, CEVA, Inc., Director of
Marketing & Investor Relations, +1-650-417-7976,
richard.kingston@ceva-dsp.com







END

CEVA, Inc. Announces Second Quarter 2011 Financial Results

-- Quarterly revenues of $14.4 million, up 36% year-over-year

-- Healthy licensing environment with good short-term visibility

-- Strong financial performance -both operating income and net income
approximately double year-over-year

MOUNTAIN VIEW, Calif., July 26, 2011 -- CEVA, Inc. (NASDAQ: CEVA); (LSE:
CVA), the leading licensor of silicon intellectual property (SIP) platform
solutions and DSP cores for the mobile handset, portable and consumer
electronics markets, today announced its financial results for the second
quarter ended June 30, 2011.

(Logo: http://photos.prnewswire.com/prnh/20051010/cevalogo)

Total revenue for the second quarter of 2011 was $14.4 million, an
increase of 36% compared to $10.6 million reported for the second quarter of
2010. Second quarter 2011 licensing revenue was $5.2 million, representing
an increase of 13% when compared to $4.6 million reported for the same
quarter a year ago. Royalty revenue for the second quarter 2011 was $8.3
million, an increase of 60% compared to $5.2 million reported for the second
quarter of 2010. Revenue from services for both the second quarters of 2011
and 2010 was $0.9 million.

Gideon Wertheizer, Chief Executive Officer of CEVA, stated, "The second
quarter demonstrated strong financial and business achievements. We are
particularly pleased with the dynamics of our licensing business, where we
concluded strategic CEVA-XC agreements with partners in the LTE handset and
smart grid markets. We also experienced higher sequential shipment volumes
of CEVA-powered products, resulting from continued expansion in the
lucrative 3G smartphone and TD-SCDMA market segments. Overall, we continue
to make exceptional progress in both the licensing and market deployment of
our technology, reaffirming the key trends that drive growth and
profitability for our company."

Of the eight new license agreements concluded during the second quarter
of 2011, seven agreements were for CEVA DSP cores, platforms and software,
and one agreement was for CEVA SATA/SAS product lines. Target applications
for customer deployment are 4G and 3G baseband processors for handsets,
infrastructure, smart grid, portable game consoles and SSD drives.
Geographically, four of the agreements signed were in the U.S. and four were
in Asia.

U.S. GAAP net income for the second quarter of 2011 was $4.1 million, an
increase of 94% over $2.1 million reported for the same period in 2010. U.S.
GAAP diluted earnings per share for the second quarter of 2011 were $0.17,
an increase of 70% compared to $0.10 for the second quarter of 2010.

Non-GAAP net income and diluted earnings per share for the second
quarter of 2011 were $5.4 million and $0.22 respectively, representing an
increase of 102% and 83%, respectively, over the $2.7 million and $0.12
reported for the second quarter of 2010. Non-GAAP net income and diluted
earnings per share for the second quarter of 2011 and 2010 excluded an
aggregate equity-based compensation expense, net of taxes, of $1.2 million
and $0.5 million, respectively.

Yaniv Arieli, Chief Financial Officer of CEVA, stated, "We continued to
demonstrate considerable progress during the second quarter, delivering
significant year-over-year growth in every aspect of our business. Total
revenue increase was driven by exceptional year-over-year royalty revenue
growth and progress in our licensing business. As a result, our operating
income and net income approximately doubled compared to the second quarter
of 2010. Finally, we continued to strengthen our balance sheet with the
addition of approximately $9 million in positive cash flow. At the end of
the quarter, our cash balance, marketable securities and bank deposits
totaled approximately $153 million."

CEVA Conference Call

On July 26, 2011, CEVA management will conduct a conference call at 8:30
a.m. Eastern Time / 1:30 p.m. London time, to discuss the operating
performance for the second quarter ended June 30, 2011.

The conference call will be available via the following dial in numbers:

- US Participants: Dial 1-877-493-9121 (Access Code: CEVA or
81159859)
- UK/Rest of World: Dial +44-800-051-3806 (Access Code: CEVA or
81159859)


The conference call will also be available live via the Internet at the
following link: http://www.videonewswire.com/event.asp?id=80733. Please
go to the web site at least fifteen minutes prior to the call to register,
download and install any necessary audio software. For those who cannot
access the live broadcast, a replay will be available by dialing
1-800-642-1687 (passcode: 81159859) for US domestic callers and
+44-800-917-2646 (passcode: 81159859) for international callers from two
hours after the end of the call until 11:59 p.m. (Eastern Time) on August
02, 2011. The replay will also be available at CEVA's web site
www.ceva-dsp.com.

About CEVA, Inc.

CEVA is the world's leading licensor of silicon intellectual property
(SIP) DSP cores and platform solutions for the mobile handset, portable and
consumer electronics markets. CEVA's IP portfolio includes comprehensive
technologies for cellular baseband (2G / 3G / 4G), multimedia, HD video and
audio, voice over packet (VoP), Bluetooth, Serial Attached SCSI (SAS) and
Serial ATA (SATA). In 2010, CEVA's IP was shipped in over 600 million
devices, powering handsets from 7 out of the top 8 handset OEMs, including
Nokia, Samsung, LG, Motorola, Sony Ericsson and ZTE. Today, more than one in
every three handsets shipped worldwide is powered by a CEVA DSP core. For
more information, visit www.ceva-dsp.com. Follow CEVA on twitter at
www.twitter.com/cevadsp.



CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - U.S. GAAP
U.S. dollars in thousands, except per share data

Quarter ended Six months ended
June 30, June 30,
2011 2010 2011 2010
--- --- --- ---
Unaudited Unaudited Unaudited Unaudited
--------- --------- --------- ---------
Revenues:
Licensing $5,195 $4,593 $10,303 $9,315
Royalties 8,272 5,154 17,478 10,134
Other revenues 921 862 1,659 1,761
-- -- ---- ----
Total revenues 14,388 10,609 29,440 21,210
----- ----- ----- -----
Cost of revenues 876 863 1,824 1,577
-- -- ---- ----
Gross profit 13,512 9,746 27,616 19,633
----- ---- ----- -----
Operating expenses:
Research and development, net 5,405 4,505 10,655 9,114
Sales and marketing 2,327 1,776 4,551 3,584
General and administrative 1,742 1,570 3,496 3,116
Total operating expenses 9,474 7,851 18,702 15,814
---- ---- ----- -----
Operating income 4,038 1,895 8,914 3,819
Interest and other income, net 717 541 1,262 1,098
-- -- ---- ----
Income before taxes on income 4,755 2,436 10,176 4,917
Taxes on income 632 313 11,402 735
-- -- ----- --
Net income 4,123 2,123 8,774 4,182
==== ==== ==== ====
Basic net income per share $0.18 $0.10 $0.38 $0.20
Diluted net income per share $0.17 $0.10 $0.37 $0.19
Weighted-average number of
Common Stock used in
computation of net income
per share (in thousands):
Basic 23,107 21,061 22,900 20,859
Diluted 24,165 22,069 24,028 21,991
====== ====== ====== ======


Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(U.S. Dollars in thousands, except per share amounts)

Quarter ended Six months ended
June 30, June 30,
2011 2010 2011 2010
---- ---- ---- ----
Unaudited Unaudited Unaudited Unaudited
--------- --------- --------- ---------
GAAP net income 4,123 2,123 8,774 4,182
Equity-based compensation
expense included in cost of
revenue 61 15 110 33
Equity-based compensation
expense included in research and
development expenses 484 139 862 306
Equity-based compensation
expense included in sales and
marketing expenses 255 96 456 208
Equity-based compensation
expense included in general and
administrative expenses 371 290 697 577
Deferred tax related to equity-
based compensation expenses 85 - 1 -
Non-GAAP net income 5,379 2,663 10,900 5,306
===== ===== ====== =====
GAAP weighted-average number of
Common Stock used in computation
of diluted net income per share
(in thousands) 24,165 22,069 24,028 21,991
Weighted-average number of
shares related to outstanding
options 15 57 23 75
Weighted-average number of
Common Stock used in computation
of diluted net income per share
excluding equity-based
compensation expense (in
thousands) 24,180 22,126 24,051 22,066
GAAP diluted net income per share $0.17 $0.10 $0.37 $0.19
Equity-based compensation expense $0.05 $0.02 $0.08 $0.05
Non-GAAP diluted net income per
share $0.22 $0.12 $0.45 $0.24
===== ===== ===== =====


CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. Dollars in Thousands


June 30, December 31,
2011 2010
---- ----
Unaudited Audited
--------- -------
ASSETS
Current assets:
Cash and cash equivalents $14,379 $17,098
Marketable securities and short term bank
deposits 123,112 98,681
Trade receivables, net 3,622 5,906
Deferred tax assets 2,355 1,288
Prepaid expenses and other accounts
receivables 5,186 4,609
----- -----
Total current assets 148,654 127,582
------ ------
Long-term investments: 15,277 15,173
Long term bank deposits
Severance pay fund 5,858 5,433
Deferred tax assets 839 574
Property and equipment, net 1,308 1,348
Goodwill 36,498 36,498
----- -----
Total assets $208,434 $186,608
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Trade payables $850 $616
Deferred revenues 3,646 616
Accrued expenses and other payables 9,535 10,521
Deferred tax liabilities 597 901
-- --
Total current liabilities 14,628 12,654
Accrued severance pay 5,902 5,486
Total liabilities 20,530 18,140
----- -----
Stockholders' equity:
Common Stock 23 23
Additional paid in-capital 187,378 176,838
Accumulated other comprehensive income 439 317
Accumulated income (deficit) 64 (8,710)
-- ------
Total stockholders' equity 187,904 168,468
------ ------
Total liabilities and stockholders' equity $208,434 $186,608
======== ========

SOURCE CEVA, Inc.


CONTACT: Yaniv Arieli, CFO, +1-650-417-7941, yaniv.arieli@ceva-dsp.com,
or Richard Kingston, Director of Marketing & Investor Relations,
+1-650-417-7976, richard.kingston@ceva-dsp.com, both of CEVA, Inc.







END

CEVA, Inc. Announces First Quarter 2011 Financial Results

- Record quarterly total revenues of $15.1 million, record royalty revenue of
$9.2 million, up 42% and 85% year-over-year, respectively

- Record GAAP and non-GAAP operating margins of 32% and 39%, respectively

- Three licensing deals concluded for flagship CEVA-XC DSP

MOUNTAIN VIEW, Calif., April 27, 2011 -- CEVA, Inc. (NASDAQ: CEVA);
(LSE: CVA), the leading licensor of silicon intellectual property (SIP)
platform solutions and DSP cores for the mobile handset, portable and
consumer electronics markets, today announced its financial results for the
first quarter ended March 31, 2011.

(Logo: http://photos.prnewswire.com/prnh/20051010/CEVALOGO)

Total revenue for the first quarter of 2011 was a record $15.1 million,
an increase of 42% compared to $10.6 million reported for the first quarter
of 2010. First quarter 2011 licensing revenue was $5.1 million, representing
an increase of 8% when compared to $4.7 million reported for the same quarter
a year ago. Royalty revenue for the first quarter 2011 was a record $9.2
million, an increase of 85% compared to $5.0 million reported for the first
quarter of 2010. Revenue from services for the first quarter was $0.7
million, a decrease of 18% compared to $0.9 million reported for the first
quarter of 2010.

Gideon Wertheizer, Chief Executive Officer of CEVA, stated, "We are very
pleased with the level of earnings growth recorded during the first quarter,
which reflects the strong licensing and royalty revenue generating
capabilities of our business model. Our rapid market share expansion in
cellular baseband for both handsets and non-handsets continues, with more
than 210 million CEVA-powered wireless chipsets shipped during the quarter.
On licensing, our best of breed DSP, the CEVA-XC, was selected by new key
players in the wireless infrastructure and smart grid markets, thereby
continuing our expansion beyond handsets to new, strategic and high volume
markets."

U.S. GAAP net income for the first quarter of 2011 was $4.7 million, an
increase of 126% over $2.1 million reported for the same period in 2010. U.S.
GAAP diluted earnings per share for the first quarter of 2011 were $0.19, an
increase of 111% compared to $0.09 for the first quarter of 2010.

Non-GAAP net income and diluted earnings per share for the first quarter
of 2011 was $5.5 million and $0.23, respectively, representing an increase of
109% and 92%, respectively, over the $2.6 million and $0.12 reported for the
first quarter of 2010. Non-GAAP net income and diluted earnings per share for
the first quarter of 2011 and 2010 excluded an aggregate equity-based
compensation expense, net of taxes, of $0.9 million and $0.6 million,
respectively.

During the first quarter of 2011, the Company concluded seven new license
agreements. Four agreements were for CEVA DSP cores, platforms and software,
and three agreements were for CEVA SATA/SAS product lines. Target
applications for customer deployment are 3G and 4G baseband processors for
handsets, infrastructure, smart grid and SSD drives. Geographically, three of
the agreements signed were in the U.S., three were in Asia and one in Europe.

Yaniv Arieli, Chief Financial Officer of CEVA, stated, "Our first quarter
2011 financial performance exceeded our expectations and produced the sixth
sequential quarter of record royalty revenue. We achieved strong financial
results in all aspects of our business, including GAAP and non-GAAP gross
margins of 94%, as well as GAAP and non-GAAP operating margins of 32% and
39%, respectively, excluding, for purposes of non-GAAP operating margins, an
aggregate equity-based compensation expense of $1 million. We also bolstered
our strong balance sheet with the addition of approximately $12 million in
positive cash flow. At the end of the quarter, our cash balance, marketable
securities and bank deposits totaled $143 million."

CEVA Conference Call
On April 27, 2011, CEVA management will conduct a conference call at 8:30
a.m. Eastern Time / 1:30 p.m. London time, to discuss the operating
performance for the first quarter ended March 31, 2011.

The conference call will be available via the following dial in numbers:

- US Participants: Dial 1-877-493-9121 (Access Code: CEVA or
57912042)
- UK/Rest of World: Dial +44-800-051-3806 (Access Code: CEVA or
57912042)

The conference call will also be available live via the Internet at the
following link: http://www.videonewswire.com/event.asp?id=78173. Please go to
the web site at least fifteen minutes prior to the call to register, download
and install any necessary audio software.

For those who cannot access the live broadcast, a replay will be
available by dialing 1-800-642-1687 (passcode: 57912042) for US domestic
callers and +44-800-917-2646 (passcode: 57912042) for international callers
from two hours after the end of the call until 11:59 p.m. (Eastern Time) on
May 04, 2011. The replay will also be available at CEVA's web site
http://www.ceva-dsp.com.

About CEVA, Inc.
CEVA is the world's leading licensor of silicon intellectual property
(SIP) DSP cores and platform solutions for the mobile handset, portable and
consumer electronics markets. CEVA's IP portfolio includes comprehensive
technologies for cellular baseband (2G / 3G / 4G), multimedia, HD video and
audio, voice over packet (VoP), Bluetooth, Serial Attached SCSI (SAS) and
Serial ATA (SATA). In 2010, CEVA's IP was shipped in over 600 million
devices, powering handsets from 7 out of the top 8 handset OEMs, including
Nokia, Samsung, LG, Motorola, Sony Ericsson and ZTE. Today, more than one in
every three handsets shipped worldwide is powered by a CEVA DSP core. For
more information, visit http://www.ceva-dsp.com. Follow CEVA on twitter at
http://www.twitter.com/cevadsp.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks
and uncertainties, as well as assumptions that if they materialize or prove
incorrect, could cause the results of CEVA to differ materially from those
expressed or implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements that could
be deemed forward-looking statements, including Mr. Wertheizer's statements
about CEVA's ability to expand into new, strategic and high volume markets.
The risks, uncertainties and assumptions include: the ability of the CEVA DSP
cores and other technologies to continue to be strong growth drivers; the
ability of products incorporating CEVA's technologies to achieve market
acceptance; CEVA's success in penetrating new markets and maintaining its
market position in existing markets; the effect of intense industry
competition and consolidation; the possibility that the markets for CEVA's
technologies may not develop as expected; CEVA's ability to timely and
successfully develop and introduce new technologies; and general market
conditions and other risks relating to CEVA's business, including, but not
limited to, those that are described from time to time in its SEC filings.
CEVA assumes no obligation to update any forward-looking statements or
information, which speak as of their respective dates.

CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - U.S. GAAP
U.S. dollars in thousands, except per share data


Quarter ended
March 31,
2011 2010
---- ----
Unaudited Unaudited
--------- ---------
Revenues:
Licensing $5,108 $4,722
Royalties 9,206 4,980
Other revenues 738 899
--- ---

Total revenues 15,052 10,601
------ ------

Cost of revenues 948 714
--- ---

Gross profit 14,104 9,887
------ -----

Operating expenses:
Research and development, net 5,250 4,609
Sales and marketing 2,224 1,808
General and administrative 1,754 1,546

Total operating expenses 9,228 7,963
----- -----

Operating income 4,876 1,924
Financial income, net 545 557
---

Income before taxes on income 5,421 2,481
Income tax expenses 770 422
--- ---

Net income $4,651 $2,059
====== ======

Basic net income per share $0.20 $0.10
Diluted net income per share $0.19 $0.09
Weighted-average number of Common Stock used in
computation of net income per share (in
thousands):
Basic 22,692 20,654
Diluted 23,888 21,911
====== ======










Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(U.S. Dollars in thousands, except per share amounts)


Quarter ended
March 31,
2011 2010
---- ----
Unaudited Unaudited
--------- ---------
GAAP net income $4,651 $2,059
Equity-based compensation expense included in
cost of revenues 49 18
Equity-based compensation expense included in
research and development expenses 378 167
Equity-based compensation expense included in
sales and marketing expenses 201 112
Equity-based compensation expense included in
general and administrative expenses 326 287
Deferred tax related to equity-based
compensation expenses (84) -
Non-GAAP net income $5,521 $2,643
====== ======





GAAP weighted-average number of Common Stock
used in computation of diluted net income per
share (in thousands) 23,888 21,911
Weighted-average number of shares related to
outstanding options 31 92
--- ---
23,919 22,003
Weighted-average number of Common Stock used in
computation of diluted net income per share
excluding equity-based compensation expense
(in thousands)


GAAP diluted net income per share $0.19 $0.09
Equity-based compensation expense $0.04 $0.03
Non GAAP diluted net income per share $0.23 $0.12
===== =====











CEVA, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. Dollars in thousands)

March 31, December 31,
2011 2010
---- ----
ASSETS Unaudited Audited
--------- -------
Current assets:
Cash and cash equivalents $15,058 $17,098
Marketable securities and short
term bank deposits 113,003 98,681
Trade receivables, net 1,172 5,906
Deferred tax assets 1,240 1,288
Prepaid expenses and other
accounts receivables 5,120 4,609
----- -----
Total current assets 135,593 127,582
------- -------
Long term assets:
Long term bank deposits 15,259 15,173
Severance pay fund 5,682 5,433
Deferred tax assets 831 574
Property and equipment, net 1,296 1,348
Goodwill 36,498 36,498
------ ------
Total assets $195,159 $186,608
======== ========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Trade payables $398 $616
Deferred revenues 376 616
Accrued expenses and other
payables 11,088 10,521
Deferred tax liabilities 888 901
--- ---
Total current liabilities 12,750 12,654

Accrued severance pay 5,735 5,486


Total liabilities 18,485 18,140
------ ------

Stockholders' equity:
Common Stock: 23 23
Additional paid in-capital 180,281 176,838
Accumulated other comprehensive
income 429 317
Accumulated deficit (4,059) (8,710)
------ ------
Total stockholders' equity 176,674 168,468
------- -------
Total liabilities and
stockholders' equity $195,159 $186,608
======== ========


SOURCE CEVA, Inc.

CONTACT: Yaniv Arieli, CFO, +1-650-417-7941, yaniv.arieli@ceva-dsp.com,
or Richard Kingston, Director of Marketing & Investor Relations,
+1-650-417-7976, richard.kingston@ceva-dsp.com, both of CEVA, Inc.





END