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Marvell Technology Group Ltd. |
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Outlook for the First Quarter of Fiscal Year 2021 |
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Reconciliations from GAAP to Non-GAAP (Unaudited) |
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(In millions, except per share amounts) |
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Outlook for Three Months Ended
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GAAP revenue |
$680 +/- 5% |
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Special items: |
— |
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Non-GAAP revenue |
$680 +/- 5% |
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GAAP gross margin |
47.5% |
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Special items: |
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Share-based compensation |
0.3% |
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Amortization of acquired intangible assets |
15.2% |
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Non-GAAP gross margin |
63% |
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Total GAAP operating expenses |
$410 +/- 3 |
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Special items: |
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Share-based compensation |
57 |
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Restructuring related charges |
10 |
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Amortization of acquired intangible assets |
26 |
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Other operating expenses |
7 |
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Total non-GAAP operating expenses |
$310 +/- 2.5 |
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GAAP diluted net income per share |
$(0.20) - $(0.12) |
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Special items: |
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Share-based compensation |
0.09 |
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Amortization of acquired intangible assets |
0.19 |
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Restructuring related charges in operating expenses |
0.01 |
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Other operating expenses |
0.01 |
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Non-GAAP diluted net income per share |
$0.11 - $0.17 |
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Quarterly Revenue Trend (Unaudited) |
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(In thousands) |
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Three Months Ended |
% Change |
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February 1,
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November 2,
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February 2,
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YoY |
QoQ |
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Networking (1) |
$ |
376,724 |
$ |
329,962 |
$ |
387,457 |
(3) |
% |
14 |
% |
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Storage (2) |
296,486 |
287,708 |
317,042 |
(6) |
% |
3 |
% |
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Total Core |
673,210 |
617,670 |
704,499 |
(4) |
% |
9 |
% |
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Other (3) |
44,461 |
44,800 |
40,300 |
10 |
% |
(1) |
% |
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Total Revenue |
$ |
717,671 |
$ |
662,470 |
$ |
744,799 |
(4) |
% |
8 |
% |
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