Marvell Technology Group Ltd. Q4 Earnings Drop 58%

(RTTNews) - Marvell Technology Group Ltd. (MRVL) released a profit for fourth quarter that fell compared to the same period last year.

The company said its earnings came in at $54.51 million, or $0.11 per share. This was down from $130.86 million, or $0.25 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.09 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 28.1% to $616.16 million. This was down from $857.45 million last year.

Marvell Technology Group Ltd. earnings at a glance:

-Earnings (Q4): $54.51 Mln. vs. $130.86 Mln. last year. -Earnings Decline (Y-o-Y): -58.3% -EPS (Q4): $0.11 vs. $0.25 last year. -EPS Decline (Y-o-Y): -56.0% -Analysts Estimate: $0.09 -Revenue (Q4): $616.16 Mln vs. $857.45 Mln last year. -Revenue Change (Y-o-Y): -28.1%