Marvell Technology Posts 12% Sequential Rise in Revenue

Marvell Technology reported revenue of $898 million for its second quarter of fiscal 2012, ended July 30, 2011 -- a 12 percent sequential increase from $802 million in the first quarter of fiscal 2012, ended April 30, 2011, and up slightly from $896 million in the second quarter of fiscal 2011, ended July 31, 2010. GAAP net income was $192 million, or $0.31 per share (diluted), for the second quarter of fiscal 2012, compared with GAAP net income of $147 million, or $0.22 per share (diluted) in the first quarter of fiscal 2012, and $220 million, or $0.33 per share (diluted), for the second quarter of fiscal 2011.


"We continue to execute well on all of our new product initiatives including in our Mobile and Wireless end market which grew 18% sequentially," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "Our second quarter results were at the high-end of our earlier projected range and we experienced solid revenue growth in all our served end markets leading to increased profitability. Looking forward, we continue to focus our investments on initiatives designed to increase revenue and profit through both new products and share gains."


GAAP gross margin for the second quarter of fiscal 2012 was 57.9 percent, compared to 58.3 percent for the first quarter of fiscal 2012 and 59.1 percent for the second quarter of fiscal 2011. http://www.marvell.com