Late on Tuesday, chip maker Marvell Technology Group Ltd.(NASDAQ: MRVL) reported third quarter profit net income of $70.9 million, or 11 cents a share, compared with a loss of $6.4 million, or a penny a share n the same quarter in 2007. Excluding one time charges and items, the company earned $145.3 million, or 23 cents a share, more than the consensus estimates of 20 cents a share. Revenue climbed 4% to $791 million, against the average analyst estimate of $787.3 million. Chief Executive Sehat Sutardja said in a statement "while a portion of the turmoil seen in the semiconductor supply chain is real demand erosion, we also believe a certain amount could be due to overreaction." However he added "there are a lot of market opportunities that we have not played today." For the fourth quarter, the company adjusted earnings of 14 cents to 20 cents a share on revenue of $690 million to $730 million. Analysts were looking for earnings in the range of 14 cents to 18 cents a share and revenue in the range of $697 million to $740 million. Sutardja said "we continue to experience limited visibility into the near-term demand for our products."We are taking the appropriate steps to better align our operating expenses to reflect the challenging business environment we face."Shares of Marvell Technology rose 11% in after hours trade on Tuesday.

Milpitas, California based chip designer Sigma Designs Inc. (NASDAQ: SIGM) announced that its third quarter net income net income declined to $3.7 million or $0.14 per share, compared to $21.0 million or $0.72 per share in the corresponding quarter in 2007. On a non-GAAP basis, net income came at $7.2 million or $0.27 per share, compared to $23.0 million or $0.79 per share in the year ago quarter. Revenue dropped to 46.8 million from $66.2 million. Analyst on average expected the company to earn $0.29 per share on revenue of $46.36 million. Sigma also estimates revenue for the current period to be flat to down 10% from the third quarter.

Sonic Foundry (NASDAQ: SOFO), which offers rich media Webcasting and knowledge management products and services said that its a fourth quarter net loss narrowed to $1.2 million, or 3 cents a diluted share compared to a net loss of $1.4 million, or 4 cents a diluted share, in the same period of 2007. Revenue fell to $4.1 million from $4.7 million. Operating expenses dropped to $4.2 million from $5.0 million in its fiscal fourth quarter of 2007 and from $5.5 million during the fiscal first quarter of 2008 when it initiated a cost reduction plan. Chairman and CEO Rimas Buinevicius said in a statement." Over the last year, Sonic Foundry refined its operations and solidified its strategy for addressing both the academic and corporate online learning marketplace. As a result, we are well positioned for future growth. Given the historic stability of the education market during times of economic uncertainty, coupled with increasing demand for outsourced services, we are confident that we can achieve our near-term objectives and thrive in fiscal 2009."

Image sensor maker OmniVision Technologies Inc (NASDAQ: OVTI) swung to a loss in second quarter. The company posted a loss of 5.3 million, or 10 cents a share, compared with net income of $20.5 million, or 36 cents a share, in the comparable quarter in 2007. The results included a charge of $7.5 million to reflect goodwill impairment related to the "significant decline in the company's market capitalization and the current economic downturn." Excluding one time charges, the company earned 4 cents, missing analyst estimates of earnings of 5 cents a share. Sales dropped 30% to $163.9 million. Analysts on an average predicted revenue of 165.4 million. OmniVision said it expects to post a loss in the range of 9 cents to 22 cents a share and revenue in the range of $80 million and $100 million for the third quarter. 

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