SAN DIEGO, Oct. 19, 2011 (GLOBE NEWSWIRE) -- Entropic Communications, Inc. (Nasdaq:ENTR), a leading provider of silicon and software solutions that enable connected home entertainment, today announced that it ranked number 224 on Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in the United States and Canada. Rankings are based on percentage of fiscal year revenue growth from 2006 to 2010. This marks the third consecutive year Entropic has been included in the Technology Fast 500.
Entropic's revenue grew from $41.5M to $210.2M over the course of four years. Entropic's chief executive officer, Patrick Henry, credits the Company's 407 percent revenue growth to significant market momentum and design-win traction for the company's MoCA silicon and software. Henry said, "Entropic continues to see opportunities for strong growth despite the current macro-economic concerns. As we strengthen our connected home entertainment silicon product lines, we intend to continue to offer a compelling value proposition to our service provider and consumer electronic device manufacturer customers."
"Entropic Communications, like all 2011 Technology Fast 500™ companies, has excelled in fostering innovation and channeling it into spectacular growth – against the backdrop of one of the most challenging economies in history," said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. "Deloitte recognizes Entropic Communications for its remarkable accomplishment."
"We are pleased to honor Entropic Communications as a 2011 Technology Fast 500 company," said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. "As one of the fastest growing tech companies in North America, Entropic Communications has demonstrated excellence in technological innovation, entrepreneurship and rapid growth."
About Deloitte's 2011 Technology Fast 500™
Technology Fast 500, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About Entropic Communications
Entropic Communications, Inc. (Nasdaq:ENTR) is a leading fabless semiconductor company that is engineering the future of connected home networking and entertainment by providing next-generation silicon and software technologies to the world's leading Cable, Telco and Satellite service providers, OEM's and consumer electronics manufacturers. As a co-founder of MoCA (Multimedia over Coax Alliance), Entropic pioneered and continues to evolve the way high-definition television-quality video and other multimedia & digital content such as movies, music, games and photos are brought into and delivered throughout the home. For more information, visit Entropic at www.entropic.com.
The Entropic Communications logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4255
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements regarding Entropic's technology, it prospects and its role in the future of home networking, Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Entropic's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, competition, risks associated with Entropic's dependence on a limited number of customers and suppliers, technology risks, the risk that the market for HD video and multimedia content delivery solutions may not develop as the Company anticipates, and other factors discussed in the "Risk Factors" section of Entropic's Quarterly Report on Form 10-Q for the three months ended June 30, 2011. All forward-looking statements are qualified in their entirety by this cautionary statement. Entropic is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
Editors Note:
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.