Marvell Technology Group Ltd. Reports Second Quarter of Fiscal Year 2020 Financial Results

 

 Marvell Technology Group Ltd.

 Outlook for the Third Quarter of Fiscal Year 2020

Reconciliations from GAAP to Non-GAAP (Unaudited)

 (In millions, except per share amounts)






Outlook for Three Months Ended

November 2, 2019

GAAP revenue

$660 +/- 3%

Special items:

Non-GAAP revenue

$660 +/- 3%



GAAP gross margin

53.5% to 54.5%

Special items:


Share-based compensation

0.3%

Amortization of acquired intangible assets

9.2%

Non-GAAP gross margin

63% to 64%



Total GAAP operating expenses

 $380 - $390

Special items:


Share-based compensation

65

Restructuring related charges

2

Amortization of acquired intangible assets

20

Other operating expenses

18

Total non-GAAP operating expenses

$280 +/- $2.5





GAAP diluted net loss per share

 $(0.09) - $(0.05)

Special items:


Share-based compensation

0.10

Amortization of acquired intangible assets

0.12

Other operating expenses

0.03

Other income tax effects and adjustments

(0.01)

Non-GAAP diluted net income per share

$0.15 - $0.19

 

Quarterly Revenue Trend (Unaudited)

(In thousands)






Three Months Ended


% Change


August 3,
2019


May 4,
2019


August 4,
2018


YoY


QoQ

Storage (1)

$

274,905



$

278,667



$

335,764



(18)

%


(1)

%

Networking (2)

329,605



341,344



283,330



16

%


(3)

%

   Total Core

604,510



620,011



619,094



(2)

%


(3)

%

Other (3)

52,058



42,441



46,216



13

%


23

%

Total Revenue

$

656,568



$

662,452



$

665,310



(1)

%


(1)

%


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