Marvell Technology Group Ltd. Q4 adjusted earnings Inline With Estimates

(RTTNews) - Marvell Technology Group Ltd. (MRVL) announced a profit for fourth quarter that declined from the same period last year.

The company's earnings came in at $0.01 billion, or $0.02 per share. This compares with $1.77 billion, or $2.62 per share, in last year's fourth quarter.

Excluding items, Marvell Technology Group Ltd. reported adjusted earnings of $200.62 million or $0.29 per share for the period.

Analysts had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.2% to $797.82 million from $717.67 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q4): $200.62 Mln. vs. $116.72 Mln. last year. -EPS (Q4): $0.29 vs. $0.17 last year. -Analysts Estimate: $0.29 -Revenue (Q4): $797.82 Mln vs. $717.67 Mln last year.

-Guidance: Next quarter EPS guidance: $0.23 to $0.31