Chip maker Marvell Technology Group (MRVL) this afternoon reported fiscal Q4 revenue and profit that topped analysts’ expectations, and beat consensus with its forecast for this quarter as well, though that didn’t prevent shares from declining slightly in late trading.
Marvell is in the process of buying fellow chip maker Cavium (CAVM), and CEO Matt Murphy declared that the results "continue to demonstrate that Marvell's strategy is working and that our team is executing it very well,” adding, "We are making tremendous progress in the transformation of Marvell, and I look forward to the year ahead."
Revenue in the three months ended in January rose to $615 million, yielding EPS of 32 cents, excluding some costs.
Analysts had been modeling $611 million and 31 cents per share.
The company’s gross profit margin, on a non-GAAP basis, rose to 62.3% from 57.8% a year earlier and 61.3% in the prior quarter.
For the current quarter, the company projects revenue in a range of $585 million to $615 million, and EPS of 29 cents to 33 cents, on a non-GAAP basis. That compares to consensus for $591 million and 29 cents per share.
Gross profit margin this quarter is expected in a range of 62% to 63%.
Marvell stock is down 61 cents, or 2.5%, at $23.73, in late trading.