Marvell quarterly revenues up 40 per cent

Semiconductor manufacturer Marvell Technology has revealed that net revenue for the second quarter of fiscal 2011 was $896m (£574m), which represents a 40 per cent increase from $641m in the second quarter of 2010 and a five per cent increase from $856m in the first quarter of 2011.

GAAP net income was $220m, or $0.33 per diluted share, compared with $58m, or $0.09 per diluted share, in the second quarter of 2010 and $206m, or $0.30 per diluted share, in the first quarter of 2011.

Non-GAAP net income was $273m, or $0.40 per diluted share, which compares with $119m, or $0.18 per diluted share, for the second quarter of 2010 and $260m, or $0.38 per diluted share, for the first quarter of 2011.