(RTTNews) - Fabless semiconductor company Entropic Communications Inc. (ENTR: News ), Monday reported a narrower net loss for the third quarter due to strong demand for its satellite products, as well as lower expenses.

The company posted a GAAP net loss attributable to common stockholders of $1.2 million or $0.02 per share for the third quarter, compared to a loss of $7.1 million or $0.11 per share in the prior year quarter.

Excluding items, non-GAAP net income was $1.4 million or $0.02 per share, compared to a loss of $1.2 million or $0.02 per share in the year-ago quarter.

Third quarter net revenues declined to $31.0 million from $31.7 million in the same quarter last year.

Total operating expenses for the quarter eased to $16.9 million from $17.2 million in the prior year quarter.
For the nine-month period of 2009, the company reported net loss attributable to common stockholders of $14.3 million or $0.21 per share, compared to a loss of $17.4 million or $0.26 per share in the previous year period.

On a non-GAAP basis, net loss was $3.4 million or $0.05 per share, compared to net income of $3.2 million or $0.04 per share in the prior year period.

Net revenues for the period decreased to $81.2 million from $116.5 million in the year-ago period.

ENTR closed Monday's regular trading session at $2.55, down 9 cents or 3.41%. In the after-hours, the shares gained 30 cents or 11.76%.

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by RTT Staff Writer

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