EmailMarvell (MRVL $14.56) reported first quarter earnings of $0.29 per
share, $0.01 worse than the Thomson Reuters consensus of $0.30.
Revenues fell 6.3% year/year to $802 million versus the $825.6 million
consensus.
The company reported first quarter non-GAAP gross margins of 58.5% versus the
59% consensus.
"The results for our first quarter reflected the typical seasonality of our
consumer centric end markets... 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."
During the conference call, the company issued second quarter non-GAAP earnings
of $0.37, give or take a couple of pennies (consensus is $0.34) and expects
revenues to be $870 million to $910 million versus the $875.4 million consensus.
than one year.
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