Entropic Reports Fourth Quarter and Fiscal Year 2013 Results

Fourth Quarter Revenue of $57.9 million, Annual Revenue of $259.4 million

SAN DIEGO — Entropic (Nasdaq:ENTR), a world leader in semiconductor solutions for the connected home, today reported its fourth quarter and fiscal year results for the period ended December 31, 2013. Entropic reported fourth quarter net revenues of $57.9 million, up 3% compared with $56.4 million in the third quarter of 2013.

Net revenues for the year ended December 31, 2013 were $259.4 million, a decrease of 19% from the $321.7 million reported for the year ended December 31, 2012. Net loss computed in accordance with GAAP for the year ended December 31, 2013 was $66.2 million, or $0.73 per share (basic and diluted), compared with GAAP net income of $4.5 million, or $0.05 per share (diluted), for the year ended December 31, 2012.

Technology Innovation

• Entropic Unveiled its Fully-Integrated Set-Top Box Solutions for Satellite Receivers and IP-Clients, which Integrates High-Efficiency Video Codec (HEVC) Decoding, MoCA 2.0, Dual DVB-S/S2 Demodulators using Full-Band Capture Satellite Tuning and 3D Graphics Acceleration
• Entropic Introduced its c.LINK Broadband Access Solution to Operators in India to Deliver Greater Bandwidth and Improved Channel Performance With Lower Overall System Costs

New Deployments

• DIRECTV: Entropic and WNC Announced the World’s First Digital Channel Stacking Switch (dCSS) Solution Deployed by DIRECTV to Revolutionize Installation in Multi-Dwelling Units (MDUs) and Hotels
• SKY: Entropic and Unitron Group Announced the Unitron Johansson Multi-switch, Powered by Entropic’s CSS Technology Gives Sky Subscribers in UK and Ireland MDUs Full Access to Sky+ Services
• Major India Direct Broadcast Satellite Operator: Entropic and Inverto Announced a Major Satellite Operator in India has Deployed Inverto’s Entropic-Based Unicable Multi-Switch for Support of MDU Subscribers

New Designs

• Novabase Digital TV Technologies and Entropic Developed the First HDMI IP-Set-Top Box (IP-STB) Stick with Broadcast Quality Security
• Entropic and TVSTORM Unveiled an Android-Based IP-STB with Miracast Functionality
• Entropic and Prime Electronics & Satellitics Inc. Introduced the World’s First Single-Chip CSS Low Noise Block Solution
• Entropic and Asheridge Communications, a Member of the International Teleste Group, Introduced the echoBox Wi-Fi Home Networking Hub

New Reference Designs

• Entropic Unveiled the First MoCA 2.0 USB Bus-Powered Adapter which is a Small Form Factor, Low Power MoCA 2.0 Solution for OEMs to Design High Performance, Cost Competitive Products with Lower Overall System Costs
• Entropic and Silicon Labs Developed the First MoCA/Silicon Tuner Reference Design to Bring Broadband Directly to the TV via a Single In-Home Coaxial Cable

New Partnerships

• Entropic Announced it will Embed NAGRA NOCS 3 Security Into Its Portfolio of Advanced Platform Set-Top Box System-on-a-Chip (STB SoC) Solutions
• Entropic Announced it Completed Integration of Cryptography Research CryptoFirewall™ Security Cores into its STB SoC Platform