Quarter to Quarter Aggressive Growth Stocks Message Board

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Strategies & Market Trends : Quarter to Quarter Aggressive Growth Stocks

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To: Jack Hartmann who started this subject	10/2/2001 1:58:48 PM
From: Jack Hartmann	of 6924

GS on MRVL 29 EPS (FY Jan): 2002E US$0.15, 2003E US$0.39 Recommended List Marvell Technology Group Ltd. MRVL, $13.00 Tone still quite positive with very good visibility in storage and early positive signs for pending Gigabit Ethernet ramp in Q4. No change to the outlook with the company 2/3rd of the way through Oct quarter. The company also noted no disruption to shipping related to the 9/11 tragedy since Marvell utilizes outsourced manufacturing and ships most products to customers manufacturing facilities or manufacturing partners, which are located outside the US. With new product cycles ramping in each of its core businesses we believe MRVL is well positioned to deliver growth in the coming quarters. Further, the company is now trading at 4x ' 02 sales and 33x ' 02 EPS. Reiterate our RL rating. For the six months ended 7/28/01, revenue totaled $132.9 million, up from $61.8 million. Net loss totaled $210.2 million vs. an income of $2.7 million. Results reflect the release of new products, offset by increased goodwill amortization. EBITDA (ttm*) -$225.1M Total Cash (mrq) $215.4M needs cash within next year if burn rate continues. Could be $7 again.

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