Marvell Technology Group Ltd. Reports Third Quarter of Fiscal Year 2019 Financial Results

About Marvell

Marvell first revolutionized the digital storage industry by moving information at speeds never thought possible. Today, that same breakthrough innovation remains at the heart of the Company's storage, processing, networking, security and connectivity solutions. With leading intellectual property and deep system-level knowledge, Marvell's semiconductor solutions continue to transform the enterprise, cloud, automotive, industrial, and consumer markets. To learn more, 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

 

Nine Months Ended

   

November 3,
2018

 

August 4,
2018

 

October 28,
2017

 

November 3,
2018

 

October 28,
2017

Net revenue

 

$

851,051

   

$

665,310

   

$

616,302

   

$

2,120,992

   

$

1,793,761

 

Cost of goods sold

 

467,464

   

288,200

   

238,533

   

984,602

   

705,303

 

Gross profit

 

383,587

   

377,110

   

377,769

   

1,136,390

   

1,088,458

 
                           

Operating expenses:

                         

Research and development

 

264,888

   

216,285

   

165,477

   

657,907

   

534,444

 

Selling, general and administrative

 

112,178

   

133,701

   

59,112

   

318,192

   

169,875

 

Restructuring related charges

 

27,031

   

35,415

   

3,284

   

64,013

   

8,455

 

Total operating expenses

 

404,097

   

385,401

   

227,873

   

1,040,112

   

712,774

 

Operating income (loss) from continuing operations

 

(20,510)

   

(8,291)

   

149,896

   

96,278

   

375,684

 

Interest income

 

1,046

   

3,575

   

4,301

   

10,690

   

11,643

 

Interest expense

 

(22,370)

   

(15,795)

   

(262)

   

(38,409)

   

(393)

 

Other income (loss), net

 

(2,628)

   

(2,701)

   

2,161

   

(3,858)

   

5,471

 

Interest and other income (loss), net

 

(23,952)

   

(14,921)

   

6,200

   

(31,577)

   

16,721

 

Income (loss) from continuing operations before income taxes

 

(44,462)

   

(23,212)

   

156,096

   

64,701

   

392,405

 

Provision (benefit) for income taxes

 

9,305

   

(29,971)

   

6,759

   

(16,903)

   

8,026

 

Income (loss) from continuing operations, net of tax

 

(53,767)

   

6,759

   

149,337

   

81,604

   

384,379

 

Income from discontinued operations, net of tax

 

   

   

50,851

   

   

87,689

 

Net income (loss)

 

$

(53,767)

   

$

6,759

   

$

200,188

   

$

81,604

   

$

472,068

 
                     

Net income (loss) per share — Basic:

                   

Continuing operations

 

$

(0.08)

   

$

0.01

   

$

0.30

   

$

0.14

   

$

0.77

 

Discontinued operations

 

$

   

$

   

$

0.11

   

$

   

$

0.17

 

Net income (loss) per share - Basic

 

$

(0.08)

   

$

0.01

   

$

0.41

   

$

0.14

   

$

0.94

 
                     

Net income (loss) per share — Diluted:

                   

Continuing operations

 

$

(0.08)

   

$

0.01

   

$

0.30

   

$

0.14

   

$

0.75

 

Discontinued operations

 

$

   

$

   

$

0.10

   

$

   

$

0.17

 

Net income (loss) per share - Diluted

 

$

(0.08)

   

$

0.01

   

$

0.40

   

$

0.14

   

$

0.92

 
                     

Weighted average shares:

                   

Basic

 

657,519

   

552,238

   

494,096

   

569,031

   

499,568

 

Diluted

 

657,519

   

562,149

   

504,903

   

578,872

   

510,935

 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »



Review Article Be the first to review this article



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise