Analyst Conference News Summary

conference date: August 20, 2015 @ 1:45 PM Pacific Time
for quarter ending: August 2, 2015 (Q2, second quarter fiscal 2016)

Forward-looking statements

Note: the report and conference have been postponed.

You can get a summary of preliminary Q2 results in the Marvell NT 10-Q filing of 9/11/2015. It is strangely grim due to an unusually high cost of goods sold line.

Overview:

Basic data (GAAP) :

Revenue was $ million, down % sequentially from $724.3 million, and also down % from $ million in the year-earlier quarter.

Net income of was $ million, down % sequentially from $14.1 million, and down % from $ million year-earlier.

EPS (diluted earnings per share) were $, down % sequentially from $0.03, and down % from $ year-earlier.

Guidance:

Conference Highlights:

Non-GAAP numbers: net income $ million, down % sequentially from $ million, and down % from $ million year-earlier. EPS was $0., down % sequentially from $0.13, and down % from $0. year-earlier. Excludes non-cash stock-based compensation, amortization, and other non-cash or one-time charges.

Non-GAAP gross margin was %, down sequentially from 51.6%.

GAAP gross margin was %.

The HDD market (storage) market revenue

Mobile and wireless revenue

Internet of Things (IoT) is continuing to gain design wins.

Network processing segment market revenue

Cash and equivalents balance ended at $ billion, flat sequentially from $2.5 billion. Cash flow from operations was $ million. Free cash flow was $ million. $ million was spent on share repurchases. The dividend required approximately $ million. Will continue share buy backs on an opportunistic basis.

Cost of goods sold was $ million, leaving gross profit of $ million. Operating expenses were $ million, consisting of: $ million research and development; $ million selling and marketing; $ million general and administrative; $ million amortization. Leaving operating income of $ million. Interest and other income was $ million. $ million income tax expense.

The quarterly dividend per share of $0.06 will be paid on , 2015 to shareholders of record on .

Q&A:

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