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Chipmaker Entropic Posts Record Net Income

Entropic Communications Inc., a San Diego semiconductor maker, reported late July 28 it had second quarter net income of $3.1 million on revenue of $40.7 million. That compared to a net loss of $4.3 million on revenue of $37.5 million in the like quarter of 2009.

CEO Patrick Henry said the company that manufactures its chips in Asia recorded its fifth consecutive quarter of revenue growth and posted record net income for the recently completed quarter.

The company benefited from increasing adoption of home networking products by multiple pay-TV service providers as well as solid increases in chips for the direct broadcast satellite market, he said.

For the third quarter, Henry forecast increased revenue over the second quarter by 25 to 30 percent to a range of $51 million to $53 million.

Traded on Nasdaq under ENTR, shares of Entropic rose to $7.96 on July 29, up 16.5 percent from the prior day’s closing price and near the stock’s 52-week high of $8. Its low over the same period is $2.23.

— Mike Allen

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