Stock at 14.75 now.
Summary of CC
17:51 MRVL Marvell Conference Call Summary (16.60 +0.61) -Update-
In Q4 expect storage sales to improve over Q3 as a result of continuing customer demand and consumer electronic seasonality; in addition to strong PC sales, this continuing demand is caused partially by the proliferation of hard drives in to non-traditional application such as PVR security, DVD recorders, external storage for attachment to all kinds of devices... we expect continuing growth in ethernet infrastructure, and connectivity business segments.... expect wireless business to be relatively flat... expect gross margin percentage to improve 40 basis points over Q3; expect to see gross margins of 50% by the second half of FY '09.... expect pro forma operating expenses in Q4, to remain ~ at Q3 levels when normalized for an extra week... expect expenses to grow at a rate below rate of revenue growth for fiscal '09... Gross margins is something that have become a central focus of the company; have made a very determined effort to improve gross margins by looking at operational efficiencies... in terms of the operating expenses, right now it's a little too early for co to give an indication of whether they could take the number for Q4 and reduce it by $10 million to come up with the expenses of Q1; 'I'm not prepared to make any comment on that at this point'... In Q3, co had extremely good linearity; shipments in the first two months of the quarter were much greater than general; as they go in to Q4 backlog was strong... In response to GPS question: 'this is an area that we also looking at, and it's too early for us to talk about the GPS at this point, and we have something to talk about, and we'll talk about it later'...
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