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© firaxissmooke / dreamstime.com Components | January 31, 2012

Marvell pulls down revenue target for 4Q

Marvell now expects net revenue for fiscal 4Q/2012 (ending January 28, 2012) to be in the range of USD 735 - 745 million, compared with prior outlook of between USD 775 million - 825 million.
"The supply of disk drives started to recover in our fourth fiscal quarter, but later than we had originally anticipated. Our SSD revenues grew more than expected but not enough to offset the impact of the Thailand floods on our HDD volumes," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "In addition, we experienced year-end demand softness at our mobile and wireless customers, particularly in China. We believe these effects are near term only, and should not impact our results in the new fiscal year."

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