Marvell moves from loss to $206M profit
May 22nd, 2010
Marvell Technology Group Ltd. on Thursday reported first quarter net income of $206 million, or 30 cents a share, compared to a loss in the same quarter last year of $111 million, or 18 cents a share.
Santa Clara-based Marvell (NASDAQ:MRVL) had revenue of $856 million, a 64 percent increase over the year-ago quarter's $521 million.
Excluding items, the company would have earned $260 million, or 38 cents a share, compared to non-GAAP income in the year-ago quarter of $32 million, or 5 cents a share.
Analysts expected, on average, earnings if 37 cents a share on $845.8 million in revenue.