Marvell Posts Revenue of $802 Million, Down 6%

Marvell Technology Group reported revenue the first quarter its fiscal 2012 of $802 million, a 6 percent decrease from $856 million in the first quarter of fiscal 2011, ended May 1, 2010, and a 11 percent sequential decrease from $901 million in the fourth quarter of fiscal 2011, ended January 29, 2011.


GAAP net income was $147 million, or $0.22 per share (diluted), for the first quarter of fiscal 2012, compared with GAAP net income of $206 million, or $0.30 per share (diluted), for the first quarter of fiscal 2011. GAAP net income in the fourth quarter of fiscal 2011 was $223 million, or $0.33 per share (diluted).


"The results for our first quarter reflected the typical seasonality of our consumer centric end markets," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "Even at this low point in the revenue cycle, we were an industry leader in profitability for both operating and cash flow margins, demonstrating the strength of our long-term business model. We remain confident that the investments we are making such as in TD-SCDMA and SSD will result in improved results throughout the year."http://www.marvell.com