UPDATE 1-Entropic raises Q4 outlook
* Sees Q4 rev $56 mln vs est $54.6 mln
* Sees Q4 adj EPS $0.11 vs est $0.10
Jan 4 (Reuters) - Entropic Communications Inc , which designs chipsets for video and broadband multimedia applications, on Wednesday marginally raised its outlook for the fourth quarter.
The company now expects to earn 11 cents a share, excluding items, on revenue of about $56 million, for the fourth quarter. The San Diego-based company had earlier projected revenue of $54 million to $55 million and the midpoint of its adjusted net income outlook was 10 cents a share.
Analysts were expecting earnings of 10 cents a share, excluding items, on revenue of $54.6 million, according to Thomson Reuters I/B/E/S.
Separately, the company said it would buy some assets of Trident Microsystems' set-top box chips business for $55 million.
Entropic shares were up 8 cents in pre-market trade. The stock closed at $5.50 on Tuesday on Nasdaq.