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Article: Marvell Technology Group Ltd. Reports Record Second Quarter Fiscal 2005 Results; Q2 Net Revenues Increase 54% from Prior Year to $297.2 Million.
- Article from:
- Business Wire
- Article date:
- August 19, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SUNNYVALE, Calif. -- 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 second fiscal quarter ended July 31, 2004.
Net revenue for the second quarter of fiscal 2005 was a record $297.2 million, an increase of 54% over net revenue of $192.9 million for the second quarter of fiscal 2004 and a 10% sequential increase from net revenue of $269.6 million for the first quarter of fiscal 2005. Net income under generally accepted accounting principles (GAAP) was $28.6 million, or $0.10 per share (diluted), for the second quarter of ...