Marvell Technology Inc (MRVL)

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08:24 MRVL Marvell: Expects in-line quarter with limited catalysts - Kaufman (11.75 )

Kaufman says MRVL plans to report fiscal 4Q08 results today after the close. Demand from MRVL's storage end-market (approx 40%-45% of revs) remains mixed with P.C. softness offsetting stable hard drive order patterns and inventory levels. However, firm believes demand in enterprise/PC networking (approx 20% revs) also remains muted reflecting broader economic weakness, limiting significant upside in the quarter. On the whole, firm expects in-line MRVL revs of $780 mln for fiscal 4Q08, representing a decline of 3.8% Q/Q. They expect EPS to be burdened with higher operating expense, and drive results more in line with consensus $0.11 expectations this quarter.