CEVA, Inc. (NASDAQ: CEVA) reported Q4 EPS of $0.30, $0.08 better than the analyst estimate of $0.22. Revenue for the quarter came in at $28.3 million versus the consensus estimate of $24.56 million.

Gideon Wertheizer, Chief Executive Officer of CEVA, stated: "We are extremely pleased with our outstanding fourth quarter, as we set record highs in licensing and royalties. Our organization showed exceptional performance in executing twenty-one licensing agreements for a record revenue of $14.8 million, including a strategic agreement with a very large smartphone OEM for its in-house cellular modem development. Our record royalty revenue quarter of $13.5 million was driven by new handset launches and seasonal strength together with new production ramps of our non-handset baseband technologies."

Mr. Wertheizer continued: "Our broad and comprehensive product portfolio for wireless connectivity and smart sensing, together with an outstanding effort by our team in 2019, led to an all-time high $47.9 million in licensing revenue and a record fifty-two license agreements signed. Our royalty business grew 5% to $39.3 million, driven by rapid expansion in the non-handset baseband category with 49% year-over-year growth to $13 million, offset by overall maturity in the handset space."

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