Marvell Reports 12% Sequential Rise in Revenue

Marvell reported record quarterly revenue of $168.3 million for the three months ended 03-May-2003, an increase of 70% over net revenue of $98.8 million for the same period last year and a 12% sequential increase from the prior quarter. The period was Marvell's 22nd consecutive quarter of growth. Net income (GAAP) was $4.4 million, or $0.03 per share (diluted). The company said its revenue growth is being driven by the continued adoption of Gigabit Ethernet and its integrated system-on-chip storage solutions. Bookings remain strong for the new quarter.
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