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Marvell to post 'significantly' lower FY revenues

Friday 1 April 2016 | 11:50 CET | News
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Chipmaker Marvell Technology announced in an SEC filing that it expects its net revenue for the 2016 fiscal year ending 30 January to be "significantly" lower than a year earlier due to a loss in demand for its storage products and the restructuring of its mobile platform business. Stating that it would miss a deadline to file a financial report for the fiscal year, the company added that it would post a net loss as a result of the restructuring charges and the settlement of its USD 750 million patent dispute with Carnegie Mellon University.

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Categories: Mobile & Wireless
Companies: Marvell Technology
Countries: World
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