Entropic Reports Q3

SAN DIEGO -- Entropic Communications, Inc. (Nasdaq:ENTR - News), a leading provider of silicon and software solutions to enable connected home entertainment, today reported its third quarter results for the period ended September 30, 2009. Entropic reported third quarter net revenues of $31.0 million, an increase of 19 percent compared with $26.1 million in the second quarter of 2009 and two percent lower than in the third quarter of 2008.

In accordance with U.S. generally accepted accounting principles (GAAP), the company's third quarter net loss was $1.2 million, or ($0.02) per share (basic and diluted). This compares with GAAP net loss of $4.3 million, or ($0.06) per share (basic and diluted) in the second quarter of 2009. Non-GAAP net income in the third quarter was $1.4 million, or $0.02 per share (basic and diluted), compared to non-GAAP net loss of $0.7 million, or ($0.01) per share (basic and diluted) in the second quarter of 2009.

"We were pleased to once again see strong quarter-over-quarter revenue growth and a return to non-GAAP profitability," said Patrick Henry, president and CEO of Entropic Communications. "Our MoCA home networking products are now shipping into new Pay-TV service provider deployments, demand for our satellite products is strong and we are gaining traction with our silicon tuner products. Entropic's customer base is diversifying and we are well positioned to achieve continued revenue and earnings growth. We are very excited about the opportunities in front of us and believe we have a solid product portfolio and roadmap that substantiate a compelling long-term growth strategy."

Entropic Communications Inc. (Nasdaq: ENTR)