New products from Marvell Technology Group Ltd. (MRVL) lifted the company to a fiscal fourth-quarter profit. Pivotal to the profits were Marvell’s new 3G communication chips which doubled.
Marvell Chief Executive Sehat Sutardja attributes $100 million of the $842.5 million in revenue to products released in the last year.
Despite the positive news that revenue grew by more than 64 percent and profits reached $204.8 million, shares of the company slipped 6.1 percent to $18.90 in after-hours trading.
The company has been noting stronger consumer demand for its products, which range from mobile phones to chips for hard-disk drives.
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