Entropic Communications Soars After Raising Q2 Guidance

Entropic Communications

is trading significantly higher on the session after raising its Q2 guidance. The company now sees non-GAAP EPS of $0.08 vs $0.03 prior guidance and revenues of $81-82 million vs $75-77 million prior guidance. Patrick Henry, president and chief executive officer, Entropic Communications said: "We are seeing better than expected results for our Connectivity products with strong HD attach rates and upgrades at Tier-1 Pay-TV service providers driving increased demand for our home networking and direct broadcast satellite solutions. Also, through impressive execution by our operations team and supply chain partners, we were able to resolve some key supply chain constraints related to our set-top box SoC business ahead of schedule; leading to higher revenue for the set-top box SoC products versus our initial expectations entering the quarter." Entropic Communications is currently trading at $5.18,a gain of $1.10 or 26.84%.