Marvell Technology Group Ltd. MRVL reported financial results Thursday for the third quarter of fiscal year 2015, ended November 1, 2014. Revenue for the third quarter of fiscal 2015 was $930 million, below estimates of $976.14 million and down approximately 3 percent from $962 million in the second quarter of fiscal 2015, ended August 2, 2014, and approximately flat from $931 million in the third quarter of fiscal 2014, ended November 2, 2013.
Non-GAAP net income was $155 million, or $0.29 per share (diluted), in-line with estimates and below the non-GAAP net income of $181 million, or $0.34 per share (diluted), for the second quarter of fiscal 2015 and $163 million, or $0.32 per share (diluted), for the third quarter of fiscal 2014.
The fourth quarter fiscal 2015 outlook included revenue in the range of $880 Million to $900 Million with GAAP Diluted EPS expected to be in the range of $0.16 +/- $0.02. Non-GAAP Diluted EPS expected to be in the range of $0.24 +/- $0.02.
Marvell Technology traded at $13.25 in the after-hours session, down 0.38 percent.
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