Rochester, NY 7/15/2009 3:06:11 AM
MRVL - Marvell Technology Updates Financial Outlook for Second Quarter 2010
Marvell Technology Group, Ltd.
Marvell Technology Group, Ltd., MRVL
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Marvell Technology Group updated its financial outlook for the second quarter of 2010. The Company currently projects net revenues for the second quarter of 2010 to increase to a range of $600-$630 million. The increase in projected revenues is due to broad improvement in demand within multiple end-markets. The Company currently anticipates generating GAAP net income as a result of improved revenue levels. The outlook for revenue in the second quarter of fiscal 2010 was previously projected to be in a range of $540-$580 million. According to Reuters Estimates, analysts were expecting the Company to report GAAP net income of $71.37 million for the second quarter of 2010.
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