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Article: Marvell Technology Group Ltd. Reports Record First Quarter Fiscal 2005 Results; Q1 Net Revenues increase 60% from prior year to $269.6 million.
- Article from:
- Business Wire
- Article date:
- May 20, 2004
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Business Editors/High-Tech Writers
SUNNYVALE, Calif.--(BUSINESS WIRE)--May 20, 2004
Marvell(R) Technology Group Ltd. (Nasdaq:MRVL), the technology leader in the development of extreme broadband communications and storage solutions, today reported financial results for its first fiscal quarter ended May 1, 2004.
Net revenue for the first quarter of fiscal 2005 was a record $269.6 million, an increase of 60% over net revenue of $168.3 million for the first quarter of fiscal 2004 and a 11% sequential increase from net revenue of $243.3 million for the fourth quarter of fiscal 2004. Net income under generally accepted accounting principles (GAAP) ...