Monday, chip maker Marvell Technology Group Ltd. (MRVL) hiked its financial forecast for the second quarter of fiscal 2010, reflecting the broad improvement in demand within multiple end-markets.
The Hamilton, Bermuda-based company said it currently expects to generate GAAP net income for the second quarter as a result of improved revenues levels. Net revenues for the second quarter of fiscal 2010 are now projected to range between $600 million and $630 million, up 15% - 21% sequentially from net revenue of $521 million reported for the immediately preceding quarter ended May 2, 2009.
This compares to the previously communicated range of $540 million - $580 million or an increase of 4% - 11% sequentially from the first fiscal quarter of 2010, ended May 2, 2009. Twenty-nine Wall Street analysts polled by Thomson Reuters have a consensus revenue estimate of $559.31 million for the quarter. Analysts' estimates typically exclude special items.
Sehat Sutardja, chairman, president and chief executive officer of Marvell, said, "The improved revenue projection for the current quarter reflects the strength of Marvell's products. We are optimistic in our near-term outlook based on the improved order rate we have experienced so far in our second quarter, which we believe generally signals some strengthening in our customers' expectations for their businesses."
Sutardja also cautioned over the demand environment for the next few quarters in light of what the industry has experienced in the past nine months.
Last month, Marvell said it expects second-quarter adjusted earnings between $0.07 and $0.13 per share. In tandem with the announcement, analysts boosted earnings estimate to $0.10 from $0.07 per share.
Among other players in the field, LSI Corp. (LSI) expects second-quarter GAAP loss to range between $0.09 and $0.19 per share, and non-GAAP loss in the range of $0.01 - $0.06 per share. LSI also projects second quarter revenues in the range of $470 million - $530 million. Analysts expect a loss of $0.02 per share on revenues of $502.12 million for the second quarter.
While releasing first-quarter loss, STMicroelectronics NV (STM) said it expects second-quarter revenues in the range of $1.73 billion - $1.93 billion. Analysts currently expect the company to report revenues of $1.84 billion for the second quarter.
In early June, Texas Instruments Inc. (TXN) raised its revenue and earnings guidance for the second quarter, currently expecting second quarter earnings in a range of $0.14 -$0.22 per share, compared to its prior outlook range of $0.01 - $0.15 per share. Texas Instruments now expects second-quarter revenue to range between $2.30 billion and $2.50 billion, versus its prior forecast of $1.95 billion - $2.40 billion.
Marvell shares, which have been trading between $4.48 and $18.31 in the past 52 weeks, closed Friday's trading session at $12.01.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.