Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets. The company's goal is to continue to support its customers in providing faster, better solutions to meet their customers' needs for increased bandwidth as communication solutions evolve. The company meets this goal with state-of-the-art chip solutions that enable data transfer in data storage devices and networking applications.
Industry:Semi-Communications Sector: Computer and Technology Fiscal Year End:January Last Reported Quarter:04/30/12 Next EPS Date:08/16/12
Capital Structure Solvency and Cash Flow
Balance Sheet
Marvell had cash and cash equivalents plus short-term investments balance of roughly $2,675.3 million versus $1,796.7 million in 3Q10. Accounts receivable were $468.0 million versus $356.8 million in 3Q10. DSOs were 45 days, down from 43 days in 2Q11. Inventories were roughly $227.9 million versus $242.0 million in 4Q10. Days of inventory or DIO were 54 days, flat sequentially. Accounts payable were $352.2 million versus $283.4 million in 3Q10.
Cash Flow
Net cash from operating activities was $368.0 million in 3Q11 versus $204.0 million in 3Q10. Free cash flow was $338.0 million, up from $196.0 million in 3Q10.
Last edited Fri Jan 21, 2011 02:16 AM by SudiptaMukherjee (Zacks Investment Research)
Governance Social Responsibility and Employee Relations
On January 7, 2011, Entropic Communications, Inc., a leading provider of silicon and software solutions and Marvell announced their collaboration to accelerate the development of a new class of industry first MoCA(R) (Multimedia over Coax) 2.0 enabled consumer electronics and customer premise equipment (CPE) designed to allow service providers to distribute virtually unconstrained bandwidth to and within the home.
Through this collaboration, service providers and their original equipment manufacturers will have access to reference designs allowing them to quickly develop products with world-class performance and throughput of 400 Mbps to 1000 Mbps, depending on the requirements of the operator.
On January 6, 2011, Sonic Solutions(R) (SNIC) and Marvell announced a new strategic partnership that will expand the reach of RoxioNow(TM) and DivX Plus(TM) HD technology on connected consumer electronics devices. As part of the collaboration, RoxioNow will be integrated into HDTV and Blu-ray Disc player chipsets and DivX Plus HD Certification will be incorporated on Blu-ray Disc player system-on-a-chip (SoCs) for playback of DivX MKV video files in 1080p.
Last edited Fri Jan 21, 2011 02:16 AM by SudiptaMukherjee (Zacks Investment Research)
Recent and Upcoming Events
Major Risks
• Specific end-market leverage risk: MRVL is dependent on the storage and communications end markets and any slackness in these markets will put the Company at risk.
• Customer concentration: Marvel’s source of revenue has a limited customer base.
• Macroeconomic environment: Economic slowdown remains a major cause of concern in the near term.
Last edited Fri Jan 21, 2011 02:17 AM by SudiptaMukherjee (Zacks Investment Research)
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