Thursday, August 22, 2013

Marvell Sees Strength in Storage and Mobile

Marvell posted quarterly revenue of $807 million, up 10% sequentially but down 1% year-over-year.  GAAP net income was $62 million with GAAP EPS of $0.12.

"Our results in the second quarter were at the high-end of our guidance mainly due to better demand and share gains in our storage end market and strong double digit growth in our mobile and wireless end markets," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "Many of our customers are introducing new devices using our innovative solutions, which should drive continued success across all of our end markets. We expect growth to be driven by increased traction in areas such as mobile handsets, tablets, connectivity, smart home devices and SSDs."

Marvell's financial outlook for the current quarter predicts revenue in the range of $850 to $890 million.

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