Marvell Technology (MRVL) FY2012 results: revenue $3.4 billion, down 6.1% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $3.4 billion for fiscal 2012, the year ended 28 January 2012, down 6.1% on the year before. Net income was $615 million, down 32.0%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2012.
Revenue
$3.4 billion
-6.1% on the year
FY2008FY2012
Operating margin
17.8%
25.0% a year earlier
FY2008FY2012
Net income
$615 million
-32.0% on the year
FY2008FY2012
Diluted EPS
$0.99
-26.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
3,393
3,612
2,808
-6.1%
Cost of revenue
1,466
1,473
1,227
-0.5%
Gross profit
1,927
2,139
1,581
-9.9%
Gross margin
56.8%
59.2%
56.3%
Research and development
1,014
898
828
+12.9%
Operating income
604
901
334
-33.0%
Operating margin
17.8%
25.0%
11.9%
Interest expense
n/a
0.1
1.7
Pre-tax income
619
910
343
-32.0%
Income tax
4.0
6.3
-10.3
-37.3%
Effective tax rate
0.6%
0.7%
-3.0%
Net income
615
904
353
-32.0%
Net margin
18.1%
25.0%
12.6%
Diluted EPS
$0.99
$1.34
$0.54
-26.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
771
1,194
812
-35.4%
Capital expenditure
88.8
90.2
39.8
-1.5%
Free cash flow
682
1,103
772
-38.1%
Free cash flow margin
20.1%
30.5%
27.5%
Cash from investing
-590
-529
-744
Cash from financing
-1,243
77.4
111
Depreciation and amortisation
88.5
93.2
99.2
-5.1%
Share-based compensation
120
118
127
+1.2%
Buybacks
1,341
87.5
n/a
+1,432.7%
Diluted shares, weighted
623m
677m
653m
-7.9%
Shares outstanding at period end
584m
659m
638m
-11.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,014
5,522
4,418
-9.2%
Other liabilities
754
816
753
-7.7%
Total liabilities and equity
5,768
6,338
5,171
-9.0%
Fixed assets
384
358
342
+7.1%
Goodwill
2,032
2,005
1,998
+1.4%
Intangible assets
142
125
179
+13.5%
Investments
1,485
1,109
726
+33.9%
Cash and equivalents
785
1,847
1,105
-57.5%
Receivables
407
459
357
-11.4%
Inventory
354
245
242
+44.3%
Other assets
179
189
222
-5.2%
Total assets
5,768
6,338
5,171
-9.0%
10-K for the year ended 28 January 2012, filed 27 March 2012: the filing.