(Source: Datamonitor)
Marvell Technology Group, an American producer of storage, communications and consumer semiconductor products, has reported a net income of $58.49 million, or $0.09 per diluted share, for the second quarter ended August 1, 2009, compared to $71.37 million, or $0.11 per diluted share, for the same quarter of fiscal 2009.
For the second quarter of fiscal 2010, net revenue was $640.62 million, down 24% compared to $842.57 million for the same quarter of fiscal 2009.
For the first six months of fiscal 2010, net revenue was $1.16 billion, compared to $1.65 billion for the same period of fiscal 2009. Net loss was $52.96 million, or $0.09 per diluted share, compared to a net income of $141.31 million, or $0.22 per diluted share, for the same period of fiscal 2009.
Sehat Sutardja, chairman and CEO of Marvell Technology Group, said: "We are pleased with the results reported for the second quarter of fiscal 2010. Our sequential revenue growth reflects both an improving economy and the acceptance by customers of our new and existing products. Additionally, the financial discipline we have adopted continued to deliver positive benefits during the second quarter, allowing us to achieve our long-term profitability and cash flow targets well ahead of schedule."
A service of YellowBrix, Inc.
