SAN DIEGO, Jan. 12, 2011 (GLOBE NEWSWIRE) -- Entropic Communications, Inc. (Nasdaq:ENTR), a leading provider of silicon and software solutions to enable connected home entertainment, will open the Nasdaq stock exchange on Wednesday, January 12, 2011, marking its 10-year anniversary, and third year being publicly traded. The Company celebrates achievements over the last decade highlighted by recent financial, technology and corporate milestones, technology deployments, customer wins, and industry awards.
2010 was a momentum-building year for Entropic. The Company is at the center of a massive paradigm shift in the connected home entertainment market, as its silicon and software solutions have been deployed by multiple pay-TV service providers to allow consumers to stream large amounts of content into and throughout the home over the existing coaxial cable infrastructure.
"Over the past 10-years, we have developed innovative technology and a strategic approach to enable the delivery of high definition video and multimedia content into and throughout the home. Our vision has become reality over the past two-years as our software and silicon solutions became deployed, globally," said Patrick Henry, president and CEO, Entropic Communications. "As a company, we are experiencing record growth – having significantly broadened our customer base and achieving quarter-over-quarter revenue growth in 2010, adding scale to the company and operating from a position of strength to engineer the future of connected home entertainment."
Financial Strength
- From 2009–2010, Entropic grew revenue each quarter and in 2010, posted record revenue and profitability. A follow-on offering of 10.75 million shares of common stock was completed on October 5, 2010, raising net proceeds of approximately $99.1 million.
Deployment Milestones
- Entropic's MoCA silicon was first deployed in 2009 by Verizon to enable multi-room DVR as part of the FiOS service. In 2010, the Company saw adoption from nearly every leading North American pay-TV service provider including DIRECTV, Comcast, Cox Communications, Time Warner, and Rogers Cable, and by numerous mid-tier service providers including Bright House, Buckeye Cablevision, Mediacom and Sunflower Broadband. The pay-TV service providers are delivering MoCA-enabled home entertainment through leading OEMs including Cisco, Humax, Pace, Motorola, Samsung and Technicolor.
- Entropic's direct broadcast satellite (DBS) satellite outdoor unit (ODU) is being deployed by DIRECTV and DISH Networks in the U.S., by Via Embratel in Brazil, as well as by major operators in Canada and Italy, among others, to enable better service by supporting multiple tuners over a single cable, enabling easy plug-and-play set-top box upgrades, and reaching new subscribers previously unserviceable due to access limitations or wiring restrictions.
- Broadband access was made simpler in Europe and Asia, with Entropic's broadband access solution being deployed in China by Panyu Cable and in France by InCoax Networks. Entropic's broadband access solutions use coaxial cable infrastructure to deliver "last kilometer" connectivity for high-speed broadband access, to cost-effectively bring high-performance connectivity to subscribers.
- Television viewers throughout Europe can now enjoy home entertainment regardless of digital or analog broadcast service, as Robust Electronics selected Entropic's multi-mode hybrid silicon tuner to deliver high performance and cost reduction by simplifying design complexity and lowering development costs.
Industry Leadership
- In 2010, Entropic strengthened its Board of Directors and management team with the additions of Bob Bailey and Ted Tewksbury to its Board and Mike Farese as senior vice president, Engineering and Operations.
- The Linley Group ranked Entropic #1 in its "Communications Semiconductor Market Share 2009" with a 32% share in worldwide revenue of the top 4 vendors of home networking and access application specific standard products (ASSPs).
- Entropic played an important role in the ratification of the MoCA 2.0 specification, ensuring service providers and OEMs could capitalize on prior MoCA investments through backward interoperability with MoCA 1.1/1.0. Last week, Entropic achieved another MoCA home networking milestone, unveiling the world's first complete MoCA 2.0 silicon and software solution that enables up to 1Gbps of throughput throughout the home for unparalleled home entertainment experiences.
- Over the past decade, Entropic has received nearly 20-industry awards from AeA, CED Magazine, EDN Magazine, San Diego Business Journal, TechAmerica, and TMCNet, among others, and most recently was ranked as the fastest growing semiconductor company and #44 of fastest growing companies on the 2010 Deloitte Technology Fast 500™. Entropic was also named as one of Fortune Magazine's Top 10 Stock picks for 2011.
Henry continued, "We are entering 2011 with a great sense of confidence and optimism for what lies ahead. We see 2011 as the year for greater international adoption of our silicon and software solutions – from pay-TV service providers more broadly deploying MoCA-based home networking solutions to international consumer electronics OEMs leveraging our technology in connected home devices."
About Entropic Communications
Entropic Communications, Inc. (Nasdaq:ENTR) is a leading fabless semiconductor company that is engineering the future of connected home networking and entertainment by providing next-generation silicon and software technologies to the world's leading cable, telco and satellite service providers, OEMs and consumer electronics manufacturers. As a co-founder of MoCA (Multimedia over Coax Alliance), Entropic pioneered and continues to evolve the way high-definition television-quality video and other multimedia and digital content such as movies, music, games and photos are brought into and delivered throughout the home. For more information, visit Entropic at .
The Entropic Communications logo is available at
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Entropic's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, the effects of competition; Entropic's dependence on a limited number of suppliers, customers and ultimately service providers; Entropic's ability to introduce new and enhanced products on a timely basis; the risk that the market for high-definition television-quality video and multimedia content delivery solutions may not develop as anticipated; Entropic's dependence on its relationships with tuner and demodulator manufacturers for the success of its tuner products; the effect of intellectual property rights claims; risks related to Entropic's international operations; and other factors discussed in the "Risk Factors" section of Entropic's Quarterly Report on Form 10-Q for the three months ended September 30, 2010. All forward-looking statements are qualified in their entirety by this cautionary statement. Entropic is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
CONTACT: Investor Contact: Debra Hart Director, Investor Relations 858.768.3852 debra.hart@entropic.com Media Contact: Chris Fallon Ruder Finn for Entropic Communications 212.715.1691 fallonc@ruderfinn.com