Marvell Reports Flat Q4 Revenue

Marvell reported Q4 2013 revenue of $932 million, essentially flat from $931 million in the third quarter of fiscal 2014, ended November 2, 2013, and a 20 percent increase from revenue of $775 million in the fourth quarter of fiscal 2013, ended February 2, 2013.  GAAP net income for the fourth quarter of fiscal 2014 was $107 million, or $0.21 per share (diluted), compared with GAAP net income of $103 million, or $0.21 per share (diluted), for the third quarter of fiscal 2014, and $50 million, or $0.09 per share (diluted), for the fourth quarter of fiscal 2013.  

For the fiscal year ended February 1, 2014, revenue was $3.4 billion, an increase of 7 percent from revenue of $3.17 billion for the fiscal year ended February 2, 2013.

“Fiscal year 2014 was the start of a turnaround for Marvell as we delivered year over year growth in revenue and profits. We made good progress in a number of critical areas during the year,” said Dr. Sehat Sutardja, Marvell’s Chairman and Chief Executive Officer. “We are investing in advanced technologies that will help drive increased business opportunities and continued revenue and profit growth in all of our target end markets.”

http://www.marvell.com