Quarter 2, 2009 results have been announced by CEVA and show improving financial results:

* EBITDA before specific items was €69 million for the quarter, an increase of 130% on Q1.

* Q2 new business wins stands at €550 million (+17% YoY).

* Working capital improved by €53 million on Q1.

* Cash flow from operations of €94 million generated in the quarter.

* Net debt has been reduced by €98 million.

"We believe these are improving results," said CEO John Pattullo, "and CEVA remains committed to emerging from this difficult trading period as one of the most admired companies in the supply chain industry." Linked to the external economic situation, CEVA results were impacted by declining volumes and factory shut downs in the automotive sector. However in Q2, 2009, CEVA have seen accelerating improvements across all of their business. Overall, volumes and profitability remain down compared to the comparative period in 2008, but volumes are increasing sequentially, with revenue growth of 3% against Q1.

Additionally, CEVA are starting to realise improvements in profitability as their ongoing cost reduction programs begin to take effect. CEVA have concluded that across the business they are starting to see improvements in trading, although they stress that economic uncertainty remains. They pledge that for the second half of 2009 their focus will continue to be on cash and cost reduction.