CEVA profits fall a third

CEVA Logistics has posted third quarter profits that dropped by a third compared to last year, from US$152 million to $101.3 million. This was also a drop of 1.4 per cent from the previous quarter. Total revenue for the quarter was down to $2.06 billion from $2.5 billion last year.John Pattullo, Ceva Logistics’ chief executive officer, put a brave face on the results by focusing on the 21 per cent rise in new business for the first nine months compared to 2008. “Following a difficult quarter one in 2009, we delivered strong progress in quarter two. I am pleased to report that we have maintained this momentum in quarter three,” he said.