MARVELL TECHNOLOGY GROUP LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts)
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Three Months Ended |
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April 28,
2012 |
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April 30,
2011 |
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| Net revenue |
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$ |
796,351 |
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$ |
802,402 |
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| Operating costs and expenses: |
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| Cost of goods sold |
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366,322 |
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|
|
334,475 |
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| Research and development |
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|
255,970 |
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|
242,537 |
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| Selling and marketing |
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|
40,066 |
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|
38,152 |
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| General and administrative |
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25,705 |
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|
24,784 |
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| Amortization and write-off of acquired intangible assets |
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14,355 |
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14,341 |
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| Total operating costs and expenses |
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702,418 |
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|
654,289 |
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| Operating income |
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|
93,933 |
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|
148,113 |
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| Interest and other income (expense), net |
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1,057 |
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(218 |
) |
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| Income before income taxes |
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|
94,990 |
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|
147,895 |
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| Provision for income taxes |
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|
447 |
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|
1,034 |
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| Net income |
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$ |
94,543 |
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$ |
146,861 |
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| Net income per share: |
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| Basic |
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$ |
0.16 |
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$ |
0.23 |
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| Diluted |
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$ |
0.16 |
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$ |
0.22 |
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| Weighted average shares: |
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| Basic |
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580,024 |
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|
638,946 |
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| Diluted |
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594,739 |
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657,140 |
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See accompanying notes to unaudited condensed consolidated financial statements.
3
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