(Corrects fifth bullet to say shares rose 5.5 pct, not 10 pct)
* Sees fourth-qtr adj. earnings $0.23-$0.27/share vs est.
* Sees fourth-qtr revenue $880 mln-$920 mln vs est. $846.3
* Third-qtr adj. earnings $0.32/share vs est. $0.25
* Revenue rises 19 pct to $931.2 mln vs est. $870.6 mln
* Shares up 5.5 pct after market
Nov 21 Chipmaker Marvell Technology Group Ltd
forecast quarterly revenue above analysts' estimates,
helped by higher sales to flash drive and mobile and wireless
device makers, sending its shares up 5.5 percent in extended
The company, whose customers include hard disk drive and
flash drive makers Western Digital Corp, Seagate
Technology and Toshiba Corp, also reported
better-than-expected results for the third quarter.
Marvell said it expected an adjusted profit of 23-27 cents
per share for the current quarter on revenue of $880 million to
Analysts on average were expecting a profit of 23 cents per
share on revenue of $846.3 million, according to Thomson Reuters
Western Digital, Marvell's top customer, reported a
better-than-expected quarterly profit in October, mainly due to
strong sales of higher-margin products to businesses and
About 47 percent of Marvell's revenue last year came from
storage customers, for whom it makes chips used for reading and
writing data on hard-disk and flash drives. The company also
makes chips used in mobile phones made by companies such as
BlackBerry Ltd and Samsung Electronics Co Ltd
Investment management firm KKR & Co has acquired
about 5 percent of Marvell, Bloomberg reported this month,
citing two people with knowledge of the matter. (r.reuters.com/nuc64v)
Marvell's net income rose to $103 million, or 21 cents per
share, in the third quarter ended Nov. 2 from $69 million, or 12
cents per share, a year earlier.
Excluding items, the company earned 32 cents per share.
Revenue rose 19 percent to $931.2 million.
Analysts had expected earnings of 25 cents per share on
revenue of $870.6 million.
Shares of Santa Clara, California-based Marvell were trading
at $14.60 after the bell. The stock closed at $13.83 on the
Nasdaq on Thursday.
(Reporting by Supantha Mukherjee and Aurindom Mukherjee in
Bangalore; Editing by Saumyadeb Chakrabarty and Kirti Pandey)