Marvell Technology (MRVL) FY2017 results: revenue $2.3 billion, down 11.6% on the year
Marvell Technology, Inc. (MRVL) reported revenue of $2.3 billion for fiscal 2017, the year ended 28 January 2017, down 11.6% on the year before. Net income was $21 million, and diluted earnings per share $0.04. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2017.
Revenue
$2.3 billion
-11.6% on the year
FY2010FY2017
Operating margin
5.7%
-28.6% a year earlier
FY2010FY2017
Net income
$21 million
FY2010FY2017
Diluted EPS
$0.04
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,301
2,602
3,637
-11.6%
Cost of revenue
1,018
1,406
1,799
-27.6%
Gross profit
1,283
1,196
1,838
+7.3%
Gross margin
55.8%
46.0%
50.5%
Research and development
805
955
1,092
-15.7%
Operating income
130
-745
456
Operating margin
5.7%
-28.6%
12.5%
Interest expense
0.4
0.7
1.2
-47.9%
Pre-tax income
147
-728
480
Income tax
72.6
10.7
-4.1
+577.6%
Effective tax rate
49.2%
n/a
-0.8%
Net income
21.2
-811
435
Net margin
0.9%
-31.2%
12.0%
Diluted EPS
$0.04
-$1.59
$0.84
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-358
n/a
n/a
Capital expenditure
44.5
37.3
63.0
+19.5%
Free cash flow
-403
n/a
n/a
Free cash flow margin
-17.5%
n/a
n/a
Cash from investing
162
n/a
n/a
Cash from financing
-267
n/a
n/a
Depreciation and amortisation
108
100
106
+7.7%
Share-based compensation
114
134
137
-14.8%
Buybacks
182
261
65.0
-30.4%
Dividends paid
122
123
123
-0.4%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
518m
511m
521m
+1.3%
Shares outstanding at period end
506m
508m
515m
-0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,028
4,140
5,146
-2.7%
Other liabilities
621
1,302
738
-52.3%
Total liabilities and equity
4,649
5,442
5,884
-14.6%
Fixed assets
243
297
341
-18.0%
Goodwill
1,997
2,003
2,030
-0.3%
Intangible assets
3.6
11.9
30.7
-70.1%
Investments
859
1,016
1,329
-15.5%
Cash and equivalents
814
1,278
1,211
-36.3%
Receivables
335
323
421
+3.7%
Inventory
171
201
308
-15.0%
Other assets
226
312
214
-27.6%
Total assets
4,649
5,442
5,884
-14.6%
10-K for the year ended 28 January 2017, filed 28 March 2017: the filing.