Entropic Communications Inc. (ENTR) announced that financial results for the first quarter 2013 will be below the company's previous outlook. The Company expects a GAAP loss per share for the first quarter of approximately $0.03 to $0.05 and non-GAAP earnings per share of approximately $0.00 to $0.01. The company's previous guidance was for non-GAAP earnings per share of $0.02.
The company currently expects first quarter revenue to range between $74 million and $76 million. The Company's previous guidance for the first quarter was for revenue to range between $79 million and $81 million.
Analysts polled by Thomson Reuters expect the company to report earnings of $0.02 per share on revenues of $80.06 million for the first-quarter. Analysts' estimates typically exclude special items.
The company noted STB SoC or set-top box system-on-a-chip revenue was negatively impacted by a change in deployment plans for HD-DTA or high-definition digital-terminal-adapters STBs by one of Entropic's end-customer U.S. Pay-TV service providers. 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 noted the total amount of HD-DTA units expected to ship by U.S. Pay-TV service providers over the next 5 years has not changed even with this short-term set-back.
The company said it expects to release financial results for the first quarter 2013, and host a conference call for analysts and investors on or around April 30, 2013.
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