Marvell Revenue in Range of $765 Million to $785 Million on 3QFY13 …
Prior outlook was between $800 million to $850 million.
This is a Press Release edited by StorageNewsletter.com on October 19, 2012 at 2:56 pmMarvell Technology Group Ltd. updated its financial outlook for the third quarter of fiscal 2013, ending October 27, 2012.
Marvell now expects net revenue for the third quarter of fiscal 2013 will be in the range of $765 million to $785 million, compared with prior outlook of between $800 million to $850 million.
"The continued slowdown in the global economy during the third quarter is resulting in a weaker PC market than previously anticipated and thus lower demand from our storage HDD customers. Our SSD, networking, and mobile product revenues are tracking to be in line with prior expectations," said Dr. Sehat Sutardja, Marvell’s chairman and CEO. "In addition to the continued weak PC demand patterns, visibility in our other end markets remains low as we head into a seasonally softer fourth quarter."
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