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UPDATE 1-Entropic Communications cuts outlook
March 18, 2013 / 12:40 PM / 5 years ago

UPDATE 1-Entropic Communications cuts outlook

March 18 (Reuters) - Entropic Communications Inc, which designs chipsets for video and broadband multimedia applications, cut its outlook for the first quarter as a customer delayed orders.

The company’s revenue will be hurt by a change in deployment plans by a U.S. pay-TV service provider for high-definition digital terminal adapters set top boxes that use Entropic’s chipsets.

High-definition digital terminal adapters enable service providers deliver HD content to their basic subscribers.

Shares of San Diego, California-based Entropic were down 3 percent in trading before the bell. They closed at $4.65 on the Nasdaq on Friday.

“The revised deployment plan will slow down the initial ramp of HD-DTAs and has therefore resulted in excess inventory in the channel,” the company said in a statement.

Entropic now expects first-quarter revenue of between $74 million and $76 million, down from its previous range of $79 million to $81 million.

It expects a profit of up to 1 cent per share, excluding items, compared with its previous forecast of 2 cents per share.

The company expects to release first-quarter results on or around April 30.

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