NEW YORK (AP) -- EZchip Semiconductor Ltd. lost money in its fourth quarter partly because of a one-time charge related to an early repayment to a government office. But the company's adjusted results and its revenue topped Wall Street's expectations, and its shares rose Wednesday.
The Israeli semiconductor company's stock climbed $2.55, or 7.6 percent, to $36.02 in afternoon trading. The shares have traded in a range of $26.55 to $37.85 over the past year.
EZchip lost $6 million, or 22 cents per share, for the three months ended Dec. 31. That compares with earnings of $4 million, or 15 cents per share, a year ago.
The quarter included a one-time charge related to an early repayment of $9.9 million to the Israeli Office of Chief Scientist. Excluding that, EZchip earned 22 cents per share.
That's more than the 20 cents per share analysts expected on average, according to a FactSet poll.
Revenue dropped 16 percent to $14.3 million from $17.1 million.
But the results still beat Wall Street's estimate of $13.7 million.
For the year, EZchip's earnings fell 42 percent to $7.9 million, or 28 cents per share, from $13.6 million, or 52 cents per share, in the prior year.
Adjusted earnings were $1.09 per share, while analysts expected $1.08.
Annual revenue rose 2 percent to $63.5 million from $62 million.