(RTTNews) - Many of the companies, which reported earnings during the fourth week of the third-quarter earnings season, ended October 30, continued to blow away analysts' estimates. The revenue growth -- the main focus this earnings season, has been mixed. However, a number of companies have boosted their outlook, underscoring a rebound. The following are some of the companies, which issued upbeat outlook in the week.
Marvell Technology Group Ltd - Will It Work Wonders?
Chipmaker Marvell Technology Group Ltd. (MRVL) boosted its third-quarter revenue outlook Monday, citing broad improvement in demand within multiple end markets. The company is scheduled to report its third-quarter results on December 3.
The company serves the storage market providing products to Fujitsu Ltd., Hitachi Ltd., Samsung Semiconductor, Seagate Technology, Toshiba Corporation and Western Digital Corporation; broadband communications market providing products to Asustek Computer Inc., Cisco Systems, Inc., Dell Inc., Huawei, Juniper Networks, Inc., Brocade Communication Systems, Inc., Intel and NETGEAR, Inc; emerging consumer electronic devices market offering products to Microsoft Corporation, Motorola, Inc., PalmOne and Sony Corp.
For the third-quarter of fiscal 2010, ending October 31, Marvell Tech now expects net revenue to range between $760 million and $775 million, up from its prior forecast of $680 million to $730 million. The revised outlook represents 19% to 21% increase over net revenue of $641 million reported for the second quarter of fiscal 2010, ended August 1, 2009. Wall Street analysts have a consensus revenue estimate of $769.98 million.
Over the past seven days, brokerage analysts have raised their earnings projections for the third-quarter by 5 cents to $0.27 per share.
MRVL, which lost more than 5% over the past five days, closed Friday's trading at $13.72.
Rural/Metro Corp. - Smooth Ride Ahead?
Rural/Metro Corp. (RURL), a national provider of ambulance and private fire protection services, said Monday that it expects revenue for its fiscal 2010 first-quarter ended September 30 to increase more than 6% over the year-ago quarter.
The company is scheduled to report its first-quarter results on November 9. For the first-quarter of fiscal 2010, Rural/Metro forecast income from continuing operations of $3.5 million and net revenue of $132.0 million. That compares with income from continuing operations of $1.09 million and net revenue of $124.4 million in the first-quarter of fiscal 2009.
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