CEVA (Nasdaq: CEVA) reported earnings on July 31. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), CEVA beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share shrank significantly.

Margins contracted across the board.

Revenue details
 CEVA logged revenue of $12.8 million. The eight analysts polled by S&P Capital IQ looked for revenue of $12.0 million on the same basis. GAAP reported sales were 5.7% lower than the prior-year quarter's $13.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 EPS came in at $0.15. The nine earnings estimates compiled by S&P Capital IQ forecast $0.13 per share. Non-GAAP EPS of $0.15 for Q2 were 21% lower than the prior-year quarter's $0.19 per share. GAAP EPS of $0.10 for Q2 were 33% lower than the prior-year quarter's $0.15 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
 For the quarter, gross margin was 91.5%, 110 basis points worse than the prior-year quarter. Operating margin was 14.2%, 940 basis points worse than the prior-year quarter. Net margin was 17.0%, 860 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $13.1 million. On the bottom line, the average EPS estimate is $0.17.

Next year's average estimate for revenue is $51.6 million. The average EPS estimate is $0.64.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 185 members out of 193 rating the stock outperform, and eight members rating it underperform. Among 48 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 45 give CEVA a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CEVA is outperform, with an average price target of $19.71.

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