Sunday, November 2, 2008

Marvell Expects Revenues Below Prior Forecasts

Marvell Technology Group reported preliminary revenue would be below prior projections for the third quarter of fiscal year 2009, ended November 1, 2008. Net revenue for the third quarter of fiscal 2009 is now expected to decline approximately 6-to-7 percent from net revenue of $843 million reported for the second quarter of fiscal 2009. The revised revenue outlook is 3-to-4 percent above the $758 million reported for the third quarter of fiscal 2008. Prior outlook for the third quarter of fiscal 2009 was for revenue to be in a range of $860 million to $880 million, or up 2% to 3% from the second fiscal quarter of 2009.


"The slowing of the world-wide economy has significantly impacted our business. Visibility into the future demand for our products has also deteriorated," said Dr. Sehat Sutardja, Marvell Chairman, President and Chief Executive Officer. http://www.marvell.com

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