November 15, 2012 / 10:06 PM / 5 years ago

UPDATE 2-Marvell Technology sees another weak quarter

* Third-quarter adjusted EPS $0.20, in line with estimates

* Third-quarter revenue $781 mln vs estimates $774.2 mln

* Sees fourth-quarter adj EPS $0.11-$0.15 vs est $0.17

* Sees fourth-quarter revenue $700-$740 mln vs $747.2 mln

* Shares up 2 pct after market

Nov 15 (Reuters) - Marvell Technology Group Ltd forecast another weak quarter as the chipmaker finds little respite from falling PC sales and lower demand for its mobile phone chips.

Marvell said it expects adjusted profit of between 11 cents and 15 cents per share on revenue of between $700 million and $740 million for the fourth quarter.

Analysts were expecting a profit of 17 cents per share on revenue of $747.2 million in revenue, according to Thomson Reuters I/B/E/S.

Marvell makes processing and networking chips used in phones running on the TD-SCDMA network - a 3G technology used in china -- but increased competition from local players is hurting its market share.

Also, the company’s controllers used in hard disk drives has borne the brunt of slowing demand for personal computers.

Last month, Marvell’s major customers Western Digital Corp and Seagate Technology plc warned that falling sales of hard disk drives were hurting their profits.

For the third quarter ended Oct. 27, the profit fell to $69 million, or 12 cents per share, down from $195 million, or 32 cents per share, last year.

Excluding items, it earned 20 cents per share, which was in line with Wall Street expectations.

The company last month warned of worse-than-anticipated demand from hard disk drive makers, triggering a slew of estimate cuts by analysts.

Revenue fell 18 percent to $781 million, but beat the $774.2 million expected by analysts, according to Thomson Reuters I/B/E/S.

Marvell shares were up 2 percent after the bell. They closed at $7.41 on the Nasdaq on Thursday.

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