SAN DIEGO, Oct. 20, 2009 (GLOBE NEWSWIRE) -- Entropic Communications, Inc. (Nasdaq:ENTR), a leading provider of silicon and software solutions to enable connected home entertainment, today announced that it ranked number five on Technology Fast 500(TM), Deloitte LLP's ranking of 500 of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on the percentage of fiscal year revenue growth during the five-year period from 2004-2008. During this period, Entropic's revenues grew from $358,000 to $146,000,000.
Entropic's CEO, Patrick Henry, primarily credits the company's success in accelerating the adoption of easy to implement, high-performance home entertainment networking that provides complete coverage throughout the home using existing wiring with the company's notable 40,691 percent growth over the past five years.
"We are honored to receive this recognition from Deloitte. Our historical growth has been fueled primarily by our home networking silicon solutions, based on the MoCA(R) standard, that enable multi-room DVR and our Direct Broadcast Satellite (DBS) Outdoor Unit (ODU) products that simplify the installation of satellite TV service," said Henry. "As excited as we are about this historical accomplishment, we are even more excited about the growth potential that we have in front of us to enable ubiquitous connectivity for home entertainment devices with continued growth in our home networking and DBS ODU products, as well as new growth opportunities from our multi-mode hybrid silicon tuners for high performance digital TV (DTV) and cable/terrestrial set-top box (STB) products and our broadband Access products focused on China's rapidly growing Ethernet over Coax (EoC) market."
"Technology Fast 500(TM) recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, vice chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate Entropic Communications on this accomplishment."
"With its impressive five-year growth, Entropic Communications has earned its position among the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor Entropic for its achievement."
Technology Fast 500(TM) Selection and Qualifying Criteria
Technology Fast 500(TM) provides a ranking of the fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500(TM) website, and public company database research conducted by Deloitte. Technology Fast 500(TM) award winners for 2009 are selected based on percentage fiscal year revenue growth during the five-year period from 2004 to 2008.
In order to be eligible for Technology Fast 500(TM) recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500(TM) award eligibility requirements also include 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. These revenues must have more than doubled between 2004 and 2008. 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, OEMs and consumer electronic 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
About Deloitte
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
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 future revenue growth potential and new growth opportunities in its various product lines. 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, the effects of competition; Entropic's dependence on a limited number of service providers and customers; Entropic's ability to introduce new and enhanced products on a timely basis; the risk that the market for high-definition television-quality video and multimedia content delivery solutions (including the growth of satellite distribution, the use of silicon tuners for DTV and the growth of China's EOC market), may not develop as anticipated; the effect of intellectual property rights claims; 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, 2009. 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.