Wednesday, August 26, 2009

Marvell Posts Q2 Revenue of $640.6 Million, up 23%

Marvell Technology Group reported Q2 revenue of $640.6 million, a 23 percent sequential increase from $521.4 million in the first quarter of fiscal 2010, ended May 2, 2009 and a 24 percent decrease from $842.6 million in the second quarter of fiscal 2009, ended August 2, 2008. GAAP net income was $58.5 million, or $0.09 per share (diluted), for the second quarter of fiscal 2010, as compared to a GAAP net loss of $111.5 million, or $0.18 per share (diluted), for the first quarter of fiscal 2010.


"We are pleased with the results reported for the second quarter of fiscal 2010," said Dr. Sehat Sutardja, Marvell Chairman and Chief Executive Officer. "Our sequential revenue growth reflects both an improving economy and the acceptance by customers of our new and existing products. Additionally, the financial discipline we have adopted continued to deliver positive benefits during the second quarter, allowing us to achieve our long-term profitability and cash flow targets well ahead of schedule."http://www.marvell.com

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