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

 

Marvell Technology Group Ltd.

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

 
   

Three Months Ended

 

Nine Months Ended

   

November 2,
2019

 

November 3,
2018

 

November 2,
2019

 

November 3,
2018

Cash flows from operating activities:

               

Net income (loss)

 

$

(82,501)

   

$

(53,767)

   

$

(188,282)

   

$

81,604

 

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

               

Depreciation and amortization

 

40,508

   

39,259

   

126,747

   

86,356

 

Share-based compensation

 

66,762

   

50,240

   

189,036

   

133,484

 

Amortization and write off of acquired intangible assets

 

92,760

   

78,691

   

253,467

   

104,630

 

Amortization of inventory fair value adjustment associated with acquisition

 

3,316

   

102,842

   

3,316

   

125,775

 

Amortization of deferred debt issuance costs and debt discounts

 

1,181

   

2,217

   

4,040

   

9,290

 

Restructuring related impairment charges

 

6,146

   

9,888

   

16,243

   

11,881

 

Other expense, net

 

2,574

   

1,771

   

4,590

   

5,402

 

Deferred income taxes

 

(10,275)

   

(6,261)

   

(7,901)

   

(27,675)

 

Changes in assets and liabilities:

               

Accounts receivable

 

(32,002)

   

(10,948)

   

8,374

   

(59,697)

 

Inventories

 

(39,276)

   

(5,007)

   

(30,602)

   

1,859

 

Prepaid expenses and other assets

 

(3,046)

   

7,630

   

(11,039)

   

(11,874)

 

Accounts payable

 

8,304

   

22,531

   

30,801

   

22,260

 

Accrued liabilities and other non-current liabilities

 

(26,141)

   

39,691

   

(106,258)

   

27,730

 

Accrued employee compensation

 

37,193

   

20,617

   

11,927

   

(20,922)

 

Net cash provided by operating activities

 

65,503

   

299,394

   

304,459

   

490,103

 

Cash flows from investing activities:

               

Purchases of available-for-sale securities

 

   

   

   

(14,956)

 

Sales of available-for-sale securities

 

18,832

   

   

18,832

   

623,896

 

Maturities of available-for-sale securities

 

   

   

   

187,985

 

Purchases of time deposits

 

   

   

   

(25,000)

 

Maturities of time deposits

 

   

25,000

   

   

175,000

 

Purchases of technology licenses

 

(414)

   

(9,918)

   

(1,936)

   

(11,181)

 

Purchases of property and equipment

 

(20,742)

   

(12,646)

   

(62,935)

   

(47,035)

 

Cash payment for acquisition, net of cash and cash equivalents acquired

 

(477,579)

   

   

(477,579)

   

(2,649,465)

 

Other, net

 

(1,404)

   

(4,007)

   

(1,793)

   

(7,534)

 

Net cash used in investing activities

 

(481,307)

   

(1,571)

   

(525,411)

   

(1,768,290)

 

Cash flows from financing activities:

               

Repurchases of common stock

 

   

(53,969)

   

(64,272)

   

(53,969)

 

Proceeds from employee stock plans

 

21,795

   

16,192

   

103,109

   

60,772

 

Tax withholding paid on behalf of employees for net share settlement

 

(19,220)

   

(8,915)

   

(80,862)

   

(45,691)

 

Dividend payments to shareholders

 

(40,140)

   

(39,411)

   

(119,496)

   

(108,592)

 

Payments on technology license obligations

 

(28,889)

   

(23,003)

   

(57,213)

   

(52,481)

 

Proceeds from issuance of debt

 

350,000

   

   

350,000

   

1,892,605

 

Principal payments of debt

 

   

(75,000)

   

(50,000)

   

(681,128)

 

Payment of equity and debt financing costs

 

   

(2,115)

   

   

(11,550)

 

Other, net

 

(2,869)

   

   

(4,355)

   

 

Net cash provided by (used in) in financing activities

 

280,677

   

(186,221)

   

76,911

   

999,966

 

Net increase (decrease) in cash and cash equivalents

 

(135,127)

   

111,602

   

(144,041)

   

(278,221)

 

Cash and cash equivalents at beginning of period

 

573,496

   

498,659

   

582,410

   

888,482

 

Cash and cash equivalents at end of period

 

$

438,369

   

$

610,261

   

$

438,369

   

$

610,261

 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »



Review Article Be the first to review this article
Aldec


Latest Blog Posts
Michelle Mata-ReyesAldec Design and Verification
by Michelle Mata-Reyes
ARM-based SoC Co-Emulation using Zynq Boards
Jobs
Salesforce Technical Lead   East Coast  for EDA Careers at Cherry Hill, New Jersey
Sr. Application Engineer for Mentor Graphics at Fremont, California
Senior Account Managers… FORMAL VERIFICATION...VALLEY for EDA Careers at San Jose, California
Hardware Engineer, Board Design for Arista Networks at Santa Clara, California
Senior Software Architect Internet for EDA Careers at San Jose, California
Upcoming Events
FLEX 2020 and MSTC 2020 at DoubleTree by Hilton 2050 Gateway Place San Jose CA - Feb 24 - 27, 2020
DVCon U.S. 2020 at DoubleTree Hotel San Jose CA - Mar 2 - 5, 2020
OFC 2020 - The Optical Networking and Communication Conference & Exhibition at San Diego Convention Center San Diego CA - Mar 8 - 12, 2020
DATE '2020 at ALPEXPO Grenoble France - Mar 9 - 13, 2020



© 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise