Marvell Technology Inc (MRVL)

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16:28 MRVL Marvell beats by $0.09, beats on revs (11.52 -0.23)

Reports Q4 (Jan) earnings of $0.20 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.11; revenues rose 11.5% year/year to $845 mln vs the $782.7 mln consensus. Co has reached a tentative settlement with the plaintiffs in the previously disclosed federal derivative lawsuits related to stock option practices. "The better than anticipated sales trends during the fourth fiscal quarter was due to strong demand for our system-on-a-chip products for the storage market, better than expected demand for our enterprise-class communication products and better than seasonal demand for our cellular products. The results demonstrate successful investment in a broad range of technologies and our ability to integrate these technologies into superior products across many markets."