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MRVL » Topics » Interest and Other Income (Expense), Net

This excerpt taken from the MRVL 10-Q filed Jun 11, 2009.

Interest and Other Income (Expense), Net

 

     Three Months Ended     %
Change		  
     May 2,
2009		     May 3,
2008		    
     (in thousands, except percentages)  

Interest and other income (expense), net

    $ (72 )   $ 2,459     (102.9 )%

% of net revenue

      0.0 %     0.3 %  

Interest and other income (expense), net, consists primarily of interest earned on cash and cash equivalent balances and other realized and unrealized gains and losses including derivatives. The decrease in interest and other income for the three months ended May 2, 2009 compared to the three months ended May 3, 2008 was primarily due to a decrease in market interest rates as well as cumulative foreign exchange losses related to foreign tax reserves as a result of the strengthening of the U.S. dollar. The results for the three months ended May 3, 2008 reflect the effect of the reclassification of foreign exchange gains and losses related to uncertain tax positions from provision (benefit) for income taxes to interest and other income (expense), net.

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