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November 19, 2010

Marvell Q3 revenue up 19%

Posts operating income of $259m

By CBR Staff Writer

Marvell Technology Group has reported revenue of $959.3m for the third quarter of FY11, an increase of 19% as compared to $803.1m of the same period last fiscal.

For the quarter ended 30 October 2010, the company reported an operating income of $259m, as compared to $170.1m in the same period last year.

The company posted gross profit of $569m in the third quarter of fiscal 2011, compared to $461.5m for the same quarter fiscal 2010.

Marvell Technology posted a net income of $256m and $0.38 EPS, as compared to net income of $202m and $0.33 EPS of the same period last year.

Marvell chairman and chief executive officer Sehat Sutardja said the company delivered significant long term growth in all of their target end-markets and continues to make excellent progress within their mobile and wireless end market, which increased over 20% sequentially.

"We experienced improved demand within our storage end-market as revenue increased 3% sequentially and we continue to deliver robust margins and significant free cash flow, which highlights the long term leverage our business model can deliver," said Sutardja.

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