Wednesday, May 16, 2007

Marvell Posts Preliminary Revenue of $635.1 million, Weaker Demand

Marvell Technology Group reported preliminary, unaudited revenue for its first fiscal quarter ended April 28, 2007 of $635.1 million, an increase of 22% over net revenue of $521.2 million for the first quarter of fiscal 2007 and a 2% sequential increase from net revenue of $622.0 million for the fourth quarter of fiscal 2007.

"The growth in our Q1 revenues was limited due to an overall weaker demand environment across some of our markets" stated Dr. Sehat Sutardja, Marvell's President and CEO. "Despite the seasonal softness, we continue to be excited about the progress we are making in applying our technologies to serve additional large market opportunities which should enable us to deliver solid long term growth."

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