Wednesday, March 2, 2011

Marvell Posts Revenue of $901 Million, Down 6% Sequentially

Marvell Technology Group reported revenue for the fourth quarter of its fiscal 2011 of $901 million, a 7 percent increase from $843 million in the fourth quarter of fiscal 2010, ended January 30, 2010, and a 6 percent sequential decrease from $959 million in the third quarter of fiscal 2011, ended October 30, 2010.



For the fiscal year ended January 29, 2011, revenue was $3.61 billion, an increase of 29 percent over revenue of $2.81 billion for the fiscal year ended January 30, 2010.



GAAP net income for the fourth quarter of fiscal 2011 was $223 million, or $0.33 per share (diluted), compared with GAAP net income of $205 million, or $0.31 per share (diluted) for the fourth quarter of fiscal 2010. GAAP net income in the third quarter of fiscal 2011 was $256 million, or $0.38 per share (diluted).



"We had a strong fiscal year for 2011 with revenues up 29% from the previous year, and free cash flow of nearly $1.1 billion or $1.60 per share. This is amongst the best in our industry and the highest free cash flow generation in the history of Marvell," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "While the results for our fourth quarter continue to be affected by seasonal declines in our mobile and wireless end markets, we are well positioned with competitive products to take advantage of the trends in the coming years."http://www.marvell.com

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