Marvell Posts Q3 Revenue of $791 Million, up 4% Year-on-Year

Marvell Technology Group posted net revenue for its third quarter of fiscal 2009 of $791.0 million, an increase of 4 percent over $758.2 million in the third quarter of fiscal 2008, ended October 27, 2007, and a 6 percent sequential decrease from $842.6 million in the second quarter of fiscal 2009, ended August 2, 2008.


GAAP net income was $70.9 million, or $0.11 per share (diluted), for the third quarter of fiscal 2009, compared with a GAAP net loss of $6.4 million, or a loss of $0.01 per share for the third quarter of fiscal 2008. In the second quarter of fiscal 2009 GAAP net income was $71.4 million, or $0.11 per share (diluted).


"The results for our third quarter were in-line with our revised expectations, however we continue to experience limited visibility into the near-term demand for our products," said Dr. Sehat Sutardja, Marvell Chairman and Chief Executive Officer. "We are taking the appropriate steps to better align our operating expenses to reflect the challenging business environment we face. Our results in our third quarter demonstrate initial progress toward these goals."http://www.marvell.com