Marvell’s Future Brightens

Marvell reported a more-than-expected 112 percent rise in profit, helped by strong demand from storage and networking companies, and said it expected its mobile business to pick up in the current quarter.

Marvell forecast first-quarter revenue between $870 and $910 million, which is above what the cocaine nose jobs of Wall Street predicted. Chief Executive Sehat Sutardja said that in his company’s first quarter, he was expecting some revenue and unit growth for our 4G LTE mobile platform from multiple customers. Marvell said results were not so hot in the mobile business in the fourth quarter as some customers delayed product launches.

The company, which also makes communications and processor products used in mobile phones, said net income doubled to $106.6 million, or 21 cents per share, in the quarter ended February 1 from $50.2 million, or 9 cents per share, a year earlier.
Revenue rose to $931.7 million, beating analysts’ estimate of $901.1 million.

Marvell’s biggest customer is Western Digital which reported better-than-expected quarterly results in January, citing strength in its gaming and notebook business.

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