MRVL » Topics » Supplementary Data (Unaudited)

This excerpt taken from the MRVL 10-K filed Apr 14, 2005.

Supplementary Data (Unaudited)

        The following table presents our unaudited consolidated statements of operations data for each of the eight quarters in the period ended January 31, 2005. In our opinion, this information has been presented on the same basis as the audited consolidated financial statements included in a separate section of this report, and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to present fairly the unaudited quarterly results when read in conjunction with the audited consolidated financial statements and related notes. The operating results for any quarter should not be relied upon as necessarily indicative of results for any future period. We expect our quarterly operating results to fluctuate in future periods due to a variety of reasons, including those discussed in "Additional Factors That May Affect Future Results."

 
  Fiscal 2005
 
  First
Quarter

  Second
Quarter

  Third
Quarter

  Fourth
Quarter

 
  (In thousands, except per share amounts)

Net revenue   $ 269,577   $ 297,154   $ 317,583   $ 340,266
Gross profit     141,741     156,249     167,323     177,510
Net income     14,497     28,624     43,595     54,945
Net income per share:                        
  Basic   $ 0.05   $ 0.11   $ 0.16   $ 0.20
  Diluted   $ 0.05   $ 0.10   $ 0.15   $ 0.18
 
  Fiscal 2004
 
  First
Quarter

  Second
Quarter

  Third
Quarter

  Fourth
Quarter

 
  (In thousands, except per share amounts)

Net revenue   $ 168,283   $ 192,854   $ 215,331   $ 243,294
Gross profit     92,170     103,910     114,494     126,982
Net income     4,357     9,422     11,956     19,775
Net income per share:                        
  Basic   $ 0.02   $ 0.04   $ 0.05   $ 0.08
  Diluted   $ 0.02   $ 0.03   $ 0.04   $ 0.07

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Item 9.    Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

        Not applicable.


Item 9A.    Controls and Procedures

        Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures.    Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were effective as of January 31, 2005.

        The information required to be furnished pursuant to this item is set forth under the caption "Report of Management on Internal Control Over Financial Reporting" in Item 8 of this Annual Report on Form 10-K, which is incorporated herein by this reference.


Item 9B.    Other Information

        Not applicable.

108



PART III

Item 10.    Directors and Executive Officers of the Registrant

        The information required by this Item with respect to our executive officers is incorporated by reference from the information set forth under the caption "Management" in our 2005 Proxy Statement. The remaining information required by Items 401 and 405 of Regulation S-K is incorporated by reference from the information set forth under the captions "Election of Directors" and "Section 16(a) Beneficial Ownership Reporting Compliance" in our Definitive Proxy Statement in connection with our 2005 Annual General Meeting of Shareholders (the "2005 Proxy Statement") which will be filed with the Securities and Exchange Commission no later than 120 days after January 29, 2005.

        We have adopted a code of ethics that applies to all of our directors, officers (including our Chief Executive Officer (our principal executive officer), Chief Financial Officer (our principal financial and accounting officer), Corporate Controller and any person performing similar functions) and employees. The Code of Ethics is available on our web site www.marvell.com. We will disclose on our web site amendments to, or waivers from, our Code of Ethics applicable to our directors and executive officers, including our Chief Executive Officer, our Chief Financial Officer (our principal financial and accounting officer), in accordance with applicable laws and regulations.

        The information required by this item concerning our audit committee and audit committee financial expert is set forth in the section titled "Board of Directors and Committees of the Board," in our 2005 Proxy Statement and is incorporated herein by reference.


Item 11.    Executive Compensation

        The information required by Item 402 of Regulation S-K is incorporated by reference from the information set forth under the caption "Executive Compensation," "Board of Directors and Committees of the Board" and "Executive Compensation Committee Interlocks and Insider Participation" in our 2005 Proxy Statement.


Item 12.    Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

        The information required by Item 403 of Regulation S-K is incorporated by reference from the information set forth under the caption "Security Ownership of Certain Beneficial Owners and Management" in our 2005 Proxy Statement.

109



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