Marvell Technology Group Ltd. (NASDAQ:MRVL) posted earnings of $0.06 non-GAAP EPS on revenues of $656.7 million, compared to estimates of $0.06 EPS on revenues of $645.5 million according to First Call. The coming quarter is expected to have $0.10 EPS on $693 million.
The company did not give formal guidance as its conference call will come later, but here is a quote from the release: "Our Q2 revenue was greater than expected as a result of strong sales for our communications and applications processors, and our wireless LAN products," stated Dr. Sehat Sutardja, Marvell’s President and CEO. "We currently believe this growth trend will continue in Q3."
The best news is now that they are current on their filings they no longer report on a preliminary basis with full results pending. On a GAAP basis, Marvell posted a -$0.10 loss per share. Shares used to compute GAAP net loss per diluted share decreased to 587.5 million shares compared with 633.5 million shares for the second quarter ended July 29, 2006.
So far shares are up modestly by 0.8% in after-hours trading, although shares closed up almost 1% today in regular trading at $17.85 on over 19 million shares.
Jon C. Ogg
August 23, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
