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News Breaks
January 11, 2013
08:12 EDTENTREntropic poised to capitalize on international opportunities, says Benchmark Co.
After meeting with Entropic's management, Benchmark Co. believes that international sales of the company's MoCA and DBS ODU chips should increase. The firm thinks that the company's efforts to become a more complete set-top box silicon solutions provider are delivering results and it maintains a Buy rating.
News For ENTR From The Last 14 Days
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November 10, 2014
13:32 EDTENTREntropic upgraded to Hold from Sell at Stifel
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07:20 EDTENTREntropic announces restructuring plan, to eliminate about 200 jobs
Entropic also announced its strategy to refocus on its core Connectivity businesses, which include MoCA, or Multimedia over Coax Alliance, direct broadcast satellite outdoor unit, or DBS ODU, and broadband access. Entropic will continue to pursue design wins for all set-top box system-on-a-chip, or SoC, products in production or already commercialized and will continue to invest to support those programs, but the Company will discontinue all new set-top box SoC product development. Entropic believes the set-top box SoC business will contribute meaningful revenue for the next three years or more, based on design wins currently in the pipeline and the products it has already brought to market.To advance its refocused strategy, Entropic is implementing a restructuring plan that it expects to substantially complete within the current quarter. The restructuring plan is expected to result in a workforce reduction of approximately 200 positions, constituting approximately 40% of Entropic's global workforce and includes closing facilities in Shanghai, China, Belfast, Northern Ireland and San Jose, CA. As a result of the restructuring plan, beginning in 1Q15, Entropic expects to realize approximately $11M in non-GAAP quarterly savings, primarily in operating expenses, with annualized non-GAAP savings projected at $44M. Entropic estimates it will incur pre-tax GAAP charges of between $9.0M-$11.0M in connection with the restructuring plan, the majority of which will be recorded during Q4. The company is continuing to actively explore strategic alternatives to enhance shareholder value.
07:17 EDTENTREntropic reports CEO Patrick Henry terminated without cause
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07:12 EDTENTREntropic reports Q3 EPS (11c), consensus (14c)
Reports Q3 revenue $43.2M, consensus $45.14M.

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