Marvell: Fiscal 4Q18 Financial Results

Storage growing 4% Y/Y and representing 53% of global revenue
This is a Press Release edited by on 2018.03.12

(in $ million) 4Q17 3Q18 4Q18
Storage revenue 310.8 315.3 323.7
Growth   3% 4%

Marvell Technology Group Ltd., in storage, networking and connectivity semiconductor solutions, reported financial results for the fourth fiscal quarter and the full fiscal year, ended February 3, 2018.

Storage products are comprised primarily of HDD, SSD controllers and data center storage solutions.

At $323.7 million, this business grew 4% Y/Y and represents 53% of total revenue.

President and CEO Matthew Murphy commented: "Storage continued its strong performance, exceeding our expectations and growing 3% sequentially. As I've mentioned earlier, storage grew 8% for the full year, driven by strong growth in SSD and continued traction of products targeting the enterprise and data center markets. Q4 was a record quarter for our SSD business as we continue to see strong demand for our broad family of SSD controller solutions. Our HDD business also experienced stronger-than-expected results in the fourth quarter, driven by growth in the enterprise and data center markets."

The company expects storage revenue to decline 6% to 8% sequentially due to normal HDD seasonality.

To read the earnings call transcript

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