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, network infrastructure, and wireless 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 | ||||||
|
|
|
|
|
|
|
October 29, |
|
July 30, |
|
October 31, |
|
October 29, |
|
October 31, |
|
|
|
|
|
|
|
2016 |
|
2016 |
|
2015 |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenue |
|
|
|
$ 654,422 |
|
$ 626,404 |
|
$ 674,890 |
|
$ 1,821,648 |
|
$ 2,109,670 | ||
|
Cost of goods sold |
|
|
286,063 |
|
287,608 |
|
379,254 |
|
832,881 |
|
1,192,126 | |||
|
Gross profit |
|
|
|
368,359 |
|
338,796 |
|
295,636 |
|
988,767 |
|
917,544 | ||
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
| |||
|
|
Research and development |
|
223,519 |
|
228,562 |
|
284,308 |
|
693,352 |
|
861,743 | |||
|
|
Selling and marketing |
|
|
30,576 |
|
31,094 |
|
32,481 |
|
93,049 |
|
99,496 | ||
|
|
General and administrative |
|
29,012 |
|
37,173 |
|
34,771 |
|
101,808 |
|
767,028 | |||
|
|
Amortization and write-off of acquired intangible assets |
2,299 |
|
2,461 |
|
3,150 |
|
7,221 |
|
8,286 | ||||
|
|
|
Total operating expenses |
|
285,406 |
|
299,290 |
|
354,710 |
|
895,430 |
|
1,736,553 | ||
|
Operating income (loss) |
|
|
82,953 |
|
39,506 |
|
(59,074) |
|
93,337 |
|
(819,009) | |||
|
Interest and other income, net |
|
5,470 |
|
6,284 |
|
4,644 |
|
13,242 |
|
16,601 | ||||
|
Income (loss) before income taxes |
|
88,423 |
|
45,790 |
|
(54,430) |
|
106,579 |
|
(802,408) | ||||
|
Provision (benefit) for income taxes |
|
15,807 |
|
(5,515) |
|
3,320 |
|
5,337 |
|
13,192 | ||||
|
Net income (loss) |
|
|
$ 72,616 |
|
$ 51,305 |
|
$ (57,750) |
|
$ 101,242 |
|
$ (815,600) | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income (loss) per share |
|
$ 0.14 |
|
$ 0.10 |
|
$ (0.11) |
|
$ 0.20 |
|
$ (1.59) | ||||
|
Diluted net income (loss) per share |
|
$ 0.14 |
|
$ 0.10 |
|
$ (0.11) |
|
$ 0.20 |
|
$ (1.59) | ||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing basic earnings (loss) per share |
511,090 |
|
511,235 |
|
504,831 |
|
510,373 |
|
512,476 | |||||
|
Shares used in computing diluted earnings (loss) per share |
522,091 |
|
514,314 |
|
504,831 |
|
516,476 |
|
512,476 | |||||
