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Components | November 18, 2011

Marvell Tech predicts flood impact

Marvell Technology has announced it's Q3 financial results, indicating that floods in Thailand will have an impact on the company.

GAAP net income was $195 million for the third quarter of fiscal 2012 down 24 percent from $256 millionfor the third quarter of fiscal 2011. ”The damage caused by the floods will have a near term impact on us, but we expect to emerge from this even stronger. Our diversified revenue profile gives us the ability to withstand such unpredictable events and continue to deliver solid profitability to our shareholders,” Dr. Sehat Sutardja, Marvell’s Chairman and Chief Executive Officer. Revenue for the third quarter of fiscal 2012 was $950 million, a 6 percent sequential increase from $898 million in the second quarter of fiscal 2012, ended July 30, 2011, and down 1 percent from $959 million in the third quarter of fiscal 2011, ended October 30, 2010.
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