Vince Martin
Long/short equity, value, gambling

Stay Patient With Entropic

"Here we go again," shareholders of Entropic Communications (NASDAQ:ENTR) must be thinking after the company updated its guidance for second quarter earnings on Tuesday. Shares fell 4 percent in after-hours trading to $4.15 after the company re-affirmed guidance for breakeven earnings on a non-GAAP basis, but moved projected revenue to $70 million, at the lower end of its previously announced range.

Indeed, quarterly earnings reports have been a minefield for Entropic and its investors, with a series of dizzying moves, too often in the wrong direction:

ENTR Earnings Movements

Quarter Date* Gain(Loss) Q2FY11 8/4/11 (38%) Q3FY11 11/3/11 (6.2%) Q4FY11 2/2/12 15.7% Q1FY12 4/25/12 (12.4%) Q2FY12 6/27/12** 28.4% Q3FY12 10/25/12 (19.6%) Q4FY12 2/6/13 (6.6%) Q1FY13 5/1/13*** (12.3%) Q2FY13 ...
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