SAN JOSE, Calif., Aug. 6, 2003 (PRIMEZONE) -- ParthusCeva, Inc. (Nasdaq:PCVA) (LSE:PCV), the leading licensor of Digital Signal Processor (DSP) cores and platform-level Intellectual Property (IP) to the semiconductor industry, announced today that ParthusCeva has been awarded a contract by the US Government for the design of a high-performance Global Positioning System (GPS) system for military test and research, utilizing ParthusCeva's NavStream(TM) 3000 GPS technology.
ParthusCeva's NavStream(TM) 3000 is an advanced GPS platform offering unrivalled location performance in terms of accuracy, time-to-location fix and programmability, enabling GPS technology to be deployed across multiple markets and applications. Under the agreement between ParthusCeva and the US Department of Defense, ParthusCeva will design a high performance GPS digital ASIC (Application Specific Integrated-Circuit) to meet the stringent performance criteria required for a next generation location and tracking system.
The contract includes the design and supply of GPS Sensor Units (GSU) which will create a location technology capable of taking GPS measurements at a rate greater than 10 times per second, a performance far surpassing existing GPS systems, and for these location measurements to be down-linked to ground stations for processing and logging. ParthusCeva's system solution also includes a unique low-cost ground processor complete with reference receiver and software that provides for GPS (C-A code) phase recovery using a standard PC platform.
"We chose to work with ParthusCeva because of NavStream's unique accuracy and rapid location acquisition capabilities of less than three seconds," said Dave Powell, NAVAIR's Joint Advanced Missile Instrumentation Project (JAMI) Deputy Director. "We have a long and successful partnership with ParthusCeva, and their ability to offer a complete GPS solution is of key importance to our ongoing research, test and evaluation programs."
"We are delighted to be continuing our relationship with NAVAIR and the US Department of Defense, the sponsor of the JAMI project, for the provision of a state-of-the-art GPS system," said Frank Keane, Vice President of Location Technologies at ParthusCeva. "The contract is superb validation of the unique location capabilities of our NavStream(TM) technology."
About ParthusCeva, Inc.
Headquarted in San Jose, ParthusCeva (Nasdaq: PCVA) and (LSE: PCV) is the leading licensor of DSP and a leading provider of application-specific platform Intellectual Property (IP) to the semiconductor industry. ParthusCeva was created as a result of the combination of Parthus Technologies plc, a leading provider of application-specific platform IP, and Ceva, formerly the licensing division of DSP Group, the leading licensor of DSP cores. For more information, visit us at http://www.parthusceva.com.
ParthusCeva Safe Harbor Statement Various statements in this press release concerning ParthusCeva's future expectations, plans and prospects are "forward-looking statements", which are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Any statements that are not statements of historical fact (including, without limitation, statements to the effect that the company or its management "believes", "expects", "anticipates", "plans" and similar expressions) should be considered forward-looking statements. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described, including the following:
-- the industries in which we license our technology are experiencing a challenging period of slow growth that has negatively impacted and could continue to negatively impact our business and operating results;
-- the markets in which we operate are highly competitive, and as a result we could experience a loss of sales, lower prices and lower revenue;
-- our operating results fluctuate from quarter to quarter due to a variety of factors including our lengthy sales cycle, and are not a meaningful indicator for future performance
-- we rely significantly on revenue derived from a limited number of licensees; and
Other risks discussed in "Management's Discussion and Analysis of Financial Condition and Results of Operations -- Factors that Could Affect Our Operating Results," in our quarterly report on Form 10-Q for the first quarter of 2003, filed with the U.S. Securities and Exchange Commission on May 14, 2003.