Entropic Sees Steep Drop In Revenues

San Diego-based Entropic Communications reported its results yesterday, saying that its net revenues fell to $24.1M, a drop of 18 percent from the fourth quarter of 2008, when it had revenues of $29.5M, and a 43% drop from the first quarter of 2008, when it reported $42.0M. The firm had a net loss of $8.7M. Reasons for the drop in the firm's revenues was not given by the firm, and in a statement the firm's President and CEO, Patrick Henry, said the firm "saw strong momentum" in support of its products. Entropic is a maker of semiconductors for the broadband and home networking market.