New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 12, 2013
15:45 EDTENTRThe Vanguard Group reports 5.82% passive stake in Entropic
News For ENTR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 10, 2014
13:32 EDTENTREntropic upgraded to Hold from Sell at Stifel
Subscribe for More Information
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
Subscribe for More Information
07:12 EDTENTREntropic reports Q3 EPS (11c), consensus (14c)
Reports Q3 revenue $43.2M, consensus $45.14M.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use