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Marvell Earnings Follow Up

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Marvell Technology (NASDAQ: MRVL) reported revenue and earnings per share for the first quarter of fiscal year 2015 that came in above analyst expectations.

Dr. Sehat Sutardja, Chairman and Chief Executive Officer of Marvell, commented, "We delivered solid first quarter results, driven by better than expected demand for our LTE solutions."

Highlights for the quarter include:

  • $958 million in revenue
  • $99 million in GAAP net income
  • $0.27 non-GAAP diluted EPS
  • free cash flows of $211 million

For the current quarter the company is projecting $940-980 million in revenue and non-GAAP diluted EPS in the range of $0.26-$0.30. Additionally. Marvell intends to pay a $0.06 quarterly dividend per share on July 2, 2014 to shares holders on record as of June 12, 2014.

"Looking forward," Sutardja said, "We continue to focus on increasing our share across all our end markets and are investing appropriately in advanced technologies that will drive our success."

The full press release can be accessed through Benzinga.com here.

 

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Posted-In: Dr. Sehat SutardjaEarnings News Guidance Dividends

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