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Technology Stocks : Semi Equipment Analysis

SOXX 302.00

+2.6%

Nov 10 4:00 PM EST

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From: Donald Wennerstrom	3/4/2011 11:05:18 AM
	1 Recommendation Read Replies (2) of 95391

MRVL Guides Q1 Below Consensus 10:34 AM ET 3/4/11 \| Briefing.com Marvell (MRVL 16.58 -1.64) reported fourth quarter earnings of $0.40 per share, worse than the consensus of $0.42. Revenues rose 6.9% year-over-year to $900.5 million, below the $923.9 million consensus. On the conference call management issued guidance seeing first quarter revenues of $800-850 million, below the $887.71 million consensus. Also on the conference call Marvell issued Q1 EPS guidance of roughly $0.30, below the $0.36 consensus. The company reported a fourth quarter non-GAAP gross margin of 59.4% vs. the 59.4% consensus. The company's Board of Directors also authorized the company to repurchase up to an additional $500 million, for a total of $1 billion, of its outstanding common shares. As of February 28, 2011, Marvell reported it has purchased roughly $150 million under the existing repurchase authorization bringing the total available under the repurchase program up to approximately $850 million. <<<MRVL selling off about 9 percent today>>>

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