Marvell (MRVL) Cuts Q3 Revs Outlook
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Price: $279.70 -0.36%
Revenue Growth %: +33.8%
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Amortization of acquired intangible assets: 2.3M
Today's EPS Names:
PLCE, COE, JVA, More
Revenue Growth %: +33.8%
Financial Fact:
Amortization of acquired intangible assets: 2.3M
Today's EPS Names:
PLCE, COE, JVA, More
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Marvell (NASDAQ: MRVL), a global leader in integrated silicon solutions, today updated its financial outlook for the third quarter of fiscal 2013, ending October 27, 2012.
Marvell now expects net revenue for the third quarter of fiscal 2013 will be in the range of $765 million to $785 million, compared with prior outlook of between $800 million to $850 million.
The Street sees revs of $813.4 million.
"The continued slowdown in the global economy during the third quarter is resulting in a weaker PC market than previously anticipated and thus lower demand from our storage HDD customers. Our SSD, networking, and mobile product revenues are tracking to be in line with prior expectations," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "In addition to the continued weak PC demand patterns, visibility in our other end markets remains low as we head into a seasonally softer fourth quarter."
No conference call will be held in conjunction with this business update.
Marvell now expects net revenue for the third quarter of fiscal 2013 will be in the range of $765 million to $785 million, compared with prior outlook of between $800 million to $850 million.
The Street sees revs of $813.4 million.
"The continued slowdown in the global economy during the third quarter is resulting in a weaker PC market than previously anticipated and thus lower demand from our storage HDD customers. Our SSD, networking, and mobile product revenues are tracking to be in line with prior expectations," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer. "In addition to the continued weak PC demand patterns, visibility in our other end markets remains low as we head into a seasonally softer fourth quarter."
No conference call will be held in conjunction with this business update.
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