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Okay. So, welcome everyone to the CEVA Meeting. My name is John Ahn and I am a semiconductor analyst here at JPMorgan. See CEVA is the leading licensor of DSP cores and platforms with a market cap about $385 million. Company develops and licenses its DSP technology for using, I think, mostly 2G, 3G, and 4G handsets at this point, but definitely diversifying into some other non-handset markets as well.
So, it is my pleasure to have the CEO of CEVA, Gideon Wertheizer here with us today. And I'd say we typically don't have the pleasure of hosting a non-US company much less somewhere all the way from Israel here. And I think maybe many of you are not very familiar with the CEVA story. So, I am going to let Gideon really devote a little bit more time than usual to introduce himself his company, his business, and then we'll just launch into Q&A today. Gideon?
Gideon Wertheizer – Chief Executive Officer
Yeah, good afternoon. For those of you that are not familiar with the CEVA story, we are what we call the IP company. If you look – think about other companies, very similar business model than our, more imagination, many could develop a piece of technology that is called DSP, digital signal processor and we license it to companies. When we license a technology, we charge or get the license fee, few hundred thousand to few million dollars depending on the business model. And they take this piece of technology integrated into their chip and when they sell their chip to their OEMs meaning handset is the place where we are, this is our space. They license. We are collecting royalty per chip few cents per each product.