Entropic Communications Earnings: Here’s Why Investors are Selling Shares Now
Entropic Communications, Inc. (NASDAQ:ENTR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 11.96%.
Entropic Communications, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 88.89% to $0.01 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Decreased 14.99% to $70.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Entropic Communications, Inc. reported adjusted EPS income of $0.01 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $70.3 million.
Quoting Management: “Despite some near term challenges in our business, we continue to build a healthy pipeline of design-wins for our set-top box system-on-a-chip and connectivity products,” said Patrick Henry, president and CEO, Entropic. “We continue to focus on getting these new designs ramping into production, and believe the strategic investments and decisions made in Q2, from our asset acquisition, company realignment, reductions in operating expenses, and focus on new product development, put us in a stronger position for long-term revenue growth and enhanced operating leverage.”
Key Stats (on next page)…