November 15, 2012 / 9:16 PM / in 5 years

Marvell Technology profit more than halves

Nov 15 (Reuters) - Chipmaker Marvell Technology Group Ltd’s third-quarter profit fell 65 percent on lower sales to hard drive makers amid slowing PC demand.

For the 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.

Revenue fell 18 percent to $781 million.

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