Marvell Technology (MRVL) FY2016 results: revenue $2.6 billion, down 28.4% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $2.6 billion for fiscal 2016, the year ended 30 January 2016, down 28.4% on the year before. Net income was -$811 million, and diluted earnings per share $-1.59. The figures are the company's own, from the 10-K it filed with the SEC on 21 July 2016.
Revenue
$2.6 billion
-28.4% on the year
FY2009FY2016
Operating margin
-28.6%
12.5% a year earlier
FY2009FY2016
Net income
-$811 million
FY2009FY2016
Diluted EPS
-$1.59
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,602
3,637
3,404
-28.4%
Cost of revenue
1,406
1,799
1,664
-21.9%
Gross profit
1,196
1,838
1,741
-34.9%
Gross margin
46.0%
50.5%
51.1%
Research and development
955
1,092
1,154
-12.5%
Operating income
-745
456
281
Operating margin
-28.6%
12.5%
8.2%
Interest expense
0.7
1.2
1.9
-39.5%
Pre-tax income
-728
480
306
Income tax
10.7
-4.1
-9.1
Effective tax rate
n/a
-0.8%
-3.0%
Net income
-811
435
315
Net margin
-31.2%
12.0%
9.3%
Diluted EPS
-$1.59
$0.84
$0.63
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
n/a
n/a
448
Capital expenditure
37.3
63.0
66.6
-40.9%
Free cash flow
n/a
n/a
381
Free cash flow margin
n/a
n/a
11.2%
Cash from investing
n/a
n/a
74.8
Cash from financing
n/a
n/a
-309
Depreciation and amortisation
100
106
103
-5.7%
Share-based compensation
134
137
156
-2.5%
Buybacks
261
65.0
376
+301.6%
Dividends paid
123
123
119
+0.0%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
511m
521m
504m
-1.9%
Shares outstanding at period end
508m
515m
502m
-1.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,140
5,146
4,676
-19.5%
Other liabilities
1,302
738
775
+76.4%
Total liabilities and equity
5,442
5,884
5,451
-7.5%
Fixed assets
297
341
356
-12.9%
Goodwill
2,003
2,030
2,030
-1.3%
Intangible assets
11.9
30.7
49.0
-61.1%
Investments
1,016
1,329
1,020
-23.6%
Cash and equivalents
1,278
1,211
966
+5.5%
Receivables
323
421
453
-23.2%
Inventory
201
308
348
-34.8%
Other assets
312
214
229
+45.5%
Total assets
5,442
5,884
5,451
-7.5%
10-K for the year ended 30 January 2016, filed 21 July 2016: the filing.