About Marvell
Marvell (NASDAQ: MRVL) is a global leader in providing complete silicon solutions. From storage to cloud infrastructure, Internet of Things (IoT), connectivity and multimedia, Marvell's diverse product portfolio aligns complete platform designs with industry-leading performance, security, reliability and efficiency. At the core of the world's most powerful consumer, network and enterprise systems, Marvell empowers partners and their customers to always stand at the forefront of innovation, performance and mass appeal. By providing people around the world with mobility and ease of access to services, adding value to their social, personal and work lives, Marvell is committed to enhancing the human experience.
As used in this release, the term "Marvell" refers to Marvell Technology Group Ltd. and its subsidiaries. For more information, please visit www.Marvell.com.
Marvell® and the Marvell logo are registered trademarks of Marvell and/or its affiliates.
|
Marvell Technology Group Ltd. | |||||||||||
|
Condensed Consolidated Statements of Operations | |||||||||||
|
(Unaudited) | |||||||||||
|
(In thousands, except per share amounts) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| ||||
|
|
|
|
|
|
|
April 30, |
|
January 30, |
|
May 2, |
|
|
|
|
|
|
|
|
2016 |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
(Preliminary) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
|
|
$ 540,822 |
|
$ 616,158 |
|
$ 724,288 |
| ||
|
Cost of goods sold |
|
|
259,210 |
|
302,610 |
|
351,153 |
| |||
|
Gross profit |
|
|
|
281,612 |
|
313,548 |
|
373,135 |
| ||
|
Operating expenses: |
|
|
|
|
|
|
|
| |||
|
|
Research and development |
|
241,271 |
|
239,703 |
|
280,114 |
| |||
|
|
Selling and marketing |
|
|
31,379 |
|
31,301 |
|
36,174 |
| ||
|
|
General and administrative |
|
35,623 |
|
37,812 |
|
41,027 |
| |||
|
|
Amortization and write-off of acquired intangible assets |
2,461 |
|
2,462 |
|
2,568 |
| ||||
|
|
|
Total operating expenses |
|
310,734 |
|
311,278 |
|
359,883 |
| ||
|
Operating income (loss) |
|
|
(29,122) |
|
2,270 |
|
13,252 |
| |||
|
Interest and other income, net |
|
1,488 |
|
1,084 |
|
5,167 |
| ||||
|
Income (loss) before income taxes |
|
(27,634) |
|
3,354 |
|
18,419 |
| ||||
|
Provision (benefit) for income taxes |
|
(4,955) |
|
(846) |
|
4,329 |
| ||||
|
Net income (loss) |
|
|
$ (22,679) |
|
$ 4,200 |
|
$ 14,090 |
| |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income (loss) per share |
|
$ (0.04) |
|
$ 0.01 |
|
$ 0.03 |
| ||||
|
Diluted net income (loss) per share |
|
$ (0.04) |
|
$ 0.01 |
|
$ 0.03 |
| ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing basic earnings (loss) per share |
508,794 |
|
506,352 |
|
516,228 |
| |||||
|
Shares used in computing diluted earnings (loss) per share |
508,794 |
|
508,590 |
|
527,167 |
| |||||
