Marvell Technology Group Ltd. Reports Fourth Quarter and Fiscal Year 2020 Financial Results

 

 Marvell Technology Group Ltd.

 Outlook for the First Quarter of Fiscal Year 2021

Reconciliations from GAAP to Non-GAAP (Unaudited)

 (In millions, except per share amounts)

   
   
 

Outlook for Three Months Ended
May 2, 2020

GAAP revenue

 $680 +/- 5%

Special items:

Non-GAAP revenue

$680 +/- 5%

   

GAAP gross margin

47.5%

Special items:

 

Share-based compensation

0.3%

Amortization of acquired intangible assets

15.2%

Non-GAAP gross margin

63%

   

Total GAAP operating expenses

 $410 +/- 3

Special items:

 

Share-based compensation

57

Restructuring related charges

10

Amortization of acquired intangible assets

26

Other operating expenses

7

Total non-GAAP operating expenses

$310 +/- 2.5

   
   

GAAP diluted net income per share

 $(0.20) - $(0.12)

Special items:

 

Share-based compensation

0.09

Amortization of acquired intangible assets

0.19

Restructuring related charges in operating expenses

0.01

Other operating expenses

0.01

Non-GAAP diluted net income per share

$0.11 - $0.17

 

Quarterly Revenue Trend (Unaudited)

(In thousands)

     
 

Three Months Ended

 

% Change

 

February 1,
2020

 

November 2,
2019

 

February 2,
2019

 

YoY

 

QoQ

Networking (1)

$

376,724

   

$

329,962

   

$

387,457

   

(3)

%

 

14

%

Storage (2)

296,486

   

287,708

   

317,042

   

(6)

%

 

3

%

   Total Core

673,210

   

617,670

   

704,499

   

(4)

%

 

9

%

Other (3)

44,461

   

44,800

   

40,300

   

10

%

 

(1)

%

Total Revenue

$

717,671

   

$

662,470

   

$

744,799

   

(4)

%

 

8

%


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