CEVA sees growth in Q1

CEVA     REVENUE

Global - CEVA Logistics witnessed a 14.3% year-on-year growth in revenue for the first quarter of 2010.

In the quarter which ended 31 March 2010, the company saw a revenue of €1.49 billion (US$1.85 billion), compared to a revenue of €1.30 billion in the first quarter of 2009.

"This is a robust start showing considerable year-on-year improvement, with clear evidence that our continued focus on business development, cash management and structural cost reduction is continuing to deliver results," said John Pattullo, CEO of CEVA.

CEVA has successfully refinanced itself over €1 billion worth of debt now due in 2018 instead of 2014-2016. The company is maintaining its focus on strict cost management and cash flow to facilitate the debt maturity.

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