Revenue of USD 898 million for Marvell in 2Q

GAAP net income was $192 million, or $0.31 per share (diluted), for the second quarter of fiscal 2012, compared with GAAP net income of $147 million, or $0.22 per share (diluted) in the first quarter of fiscal 2012, and $220 million, or $0.33 per share (diluted), for the second quarter of fiscal 2011. Non-GAAP net income was $234 million, or $0.38 per share (diluted), for the second quarter of fiscal 2012, compared with non-GAAP net income of $189 million, or $0.29 per share (diluted) for the first quarter of fiscal 2012 and $273 million, or $0.40 per share (diluted), for the second quarter of fiscal 2011. GAAP gross margin for the second quarter of fiscal 2012 was 57.9 percent, compared to 58.3 percent for the first quarter of fiscal 2012 and 59.1 percent for the second quarter of fiscal 2011. Non-GAAP gross margin for the second quarter of fiscal 2012 was 58.1 percent, compared to 58.5 percent for the first quarter of fiscal 2012 and 59.3 percent for the second quarter of fiscal 2011. Cash flow from operations for the second quarter of fiscal 2012 was $263 million, up from the $177 million reported in the first quarter of fiscal 2012 and down from the $319 million in the second quarter of fiscal 2011. Free cash flow for the second quarter of fiscal 2012 was $235 million, up from the $157 million reported in the first quarter of fiscal 2012 and down from the $292 million in second quarter of fiscal 2011. During the last 12 months, Marvell generated over $900 million in free cash flow and the second quarter of fiscal 2012 represents the 16th consecutive quarter of positive free cash flow for the company. Despite the cyclical nature of the semiconductor industry and even through broader economic downturns, Marvell's proven business model has generated positive free cash flow. Free cash flow as presented above is defined as cash flow from operations, less capital expenditures and purchases of IP licenses. Under the share repurchase program, Marvell repurchased approximately nine million shares for a total of $136 million in the second quarter of fiscal 2012. Over the past few quarters, Marvell has repurchased and retired over 64 million, or nearly 10 percent, of its outstanding shares demonstrating its commitment to returning shareholder value.