Marvell Technology Group Ltd. | |
Outlook for the Fourth Quarter of Fiscal Year 2021 | |
Reconciliations from GAAP to Non-GAAP (Unaudited) | |
(In millions, except per share amounts) | |
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| Outlook for Three Months Ended
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GAAP revenue | $785 +/- 5% |
Special items: | — |
Non-GAAP revenue | $785 +/- 5% |
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GAAP gross margin | ~52.8% |
Special items: |
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Share-based compensation | 0.5% |
Amortization of acquired intangible assets | 10.7% |
Non-GAAP gross margin | ~64% |
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Total GAAP operating expenses | ~$379 |
Special items: |
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Share-based compensation | 53 |
Amortization of acquired intangible assets | 26 |
Restructuring related charges | 15 |
Other operating expenses | 5 |
Total non-GAAP operating expenses | ~$280 |
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GAAP diluted net income (loss) per share | $(0.03) - $0.07 |
Special items: |
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Share-based compensation | 0.08 |
Amortization of acquired intangible assets | 0.16 |
Restructuring related charges | 0.02 |
Other operating expenses | 0.01 |
Other expense | 0.01 |
Other income tax effects and adjustments | (0.01) |
Non-GAAP diluted net income per share | $0.25 - $0.33 |
Quarterly Revenue Trend (Unaudited) | |||||||||||||||||
(In thousands) | |||||||||||||||||
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| Three Months Ended |
| % Change | ||||||||||||||
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| October 31,
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| August 1,
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| November 2,
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| YoY |
| QoQ | ||||||||
Networking (1) | $ | 444,756 |
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| $ | 406,008 |
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| $ | 329,962 |
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| 35 | % |
| 10 | % |
Storage (2) | 276,279 |
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| 290,495 |
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| 287,708 |
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| (4) | % |
| (5) | % | |||
Total Core | 721,035 |
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| 696,503 |
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| 617,670 |
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| 17 | % |
| 4 | % | |||
| Other (3) | 29,108 |
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| 30,794 |
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| 44,800 |
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| (35) | % |
| (5) | % | |||
| Total Revenue | $ | 750,143 |
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| $ | 727,297 |
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| $ | 662,470 |
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| 13 | % |
| 3 | % |
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| Three Months Ended | ||||||||||||||||
| % of Total | October 31,
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| August 1,
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| November 2,
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| Networking (1) | 59 | % |
| 56 | % |
| 50 | % | |||||||||
| Storage (2) | 37 | % |
| 40 | % |
| 43 | % | |||||||||
| Total Core | 96 | % |
| 96 | % |
| 93 | % | |||||||||
| Other (3) | 4 | % |
| 4 | % |
| 7 | % | |||||||||
| Total Revenue | 100 | % |
| 100 | % |
| 100 | % | |||||||||
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| (1) Networking products are comprised primarily of Ethernet Solutions, Embedded Processors and Custom ASICs. |
| (2) Storage products are comprised primarily of Storage Controllers and Fibre Channel Adapters. |
| (3) Other products are comprised primarily of Printer Solutions. |
