Entropic to explore strategic options, lowers Q3 forecast

Reuters News
Posted: Sep 16, 2014 9:21 AM

(Reuters) - Entropic Communications Inc, a designer of chipsets for video and multimedia applications, said it is exploring strategic options even as its efforts to return to profits take longer than expected.

The company lowered its revenue forecast for the current quarter to $43 million, from its earlier outlook of between $49 million and $51 million.

Entropic also said in a statement that it now expects an adjusted loss of 15 cents per share for the third quarter. It had earlier forecast an adjusted loss of 11 cents per share for the quarter.

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(Reporting by Lehar Maan in Bangalore; Editing by Feroze Jamal)