Sunday, February 25, 2007

Marvell Reports Quarterly Revenue of $622 Million

Marvell Technology Group reported preliminary quarterly revenue of $622.0 million for the quarter ended 27-Jan-2007, an increase of 27% over net revenue of $489.0 million for the same period a year earlier and a 20% sequential increase from net revenue of $520.4 million. Net revenue for fiscal 2007 was $2,237.6 million, an increase of 34% over net revenue of $1,670.3 million in fiscal 2006. All results reported are preliminary because Marvell is in the midst of a previously announced internal review by a special committee of its Board of Directors relating to the company's historical stock option practices and related accounting matters.

"We are pleased with our results for the fourth quarter," stated Dr. Sehat Sutardja, Marvell's President and CEO. "During the quarter we successfully completed the integration of the applications and communications processor business we purchased from Intel. As we start a new fiscal year we are excited about the positioning of our advanced product portfolio as well as our ability to deliver solid growth."

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