Royalty revenue was $9.1 million which is in line with the first quarter of 2011. Yaniv, will further elaborate on our financial achievement, including our recent share buyback activities and we will also provide you with our second quarter 2012 guidance and revised annual 2012 guidance. Based on a few trends which I will elaborate on shortly, we’re taking a cautious approach at this time and revising downward our annual 2012 guidance.During the first quarter we concluded eight new license agreements. Six of the agreements were for our CEVA DSP cores, platforms and software, and two for our SATA/SAS technologies. Geographically three of the license agreements were in the U.S., four were in Asia and one was in Europe. A new DSP agreement with both new and existing customers addressing smartphone opportunities in all of this market key growth segment, from local smart market 3G handset to the premium LTE phones.
CEVA's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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