Wednesday, February 23, 2005

Marvell Posts Record Revenue of $340.3 million

Marvell Technology Group record quarterly revenue of $340.3 million, an increase of 40% over net revenue of $243.3 million for the same period a year earlier and a 7% sequential increase from net revenue of $317.6 million for the preceding quarter. Net income (GAAP) was $54.9 million, or $0.18 per share (diluted). Net revenue for the year ended January 29, 2005 was $1,224.6 million, an increase of 49% over net revenue of $819.8 million for the year ended January 31, 2004.

"We are pleased to announce the results of another outstanding year and fourth quarter for Marvell," stated Dr. Sehat Sutardja, Marvell's President and CEO. "As we enter fiscal 2006, we are excited about the growing breadth of the several large volume markets we are serving as we expand our offerings into the consumer electronics markets. We expect continued strong market adoption of our advanced technologies into a variety of emerging consumer applications as well as continued solid growth from the enterprise markets."


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