Chipmaker Marvell Technology's revenue rises 20 pct

Reuters News
Posted: Feb 20, 2014 4:27 PM

(Reuters) - Chipmaker Marvell Technology Group Ltd reported a 20 percent rise in fourth-quarter revenue, helped by strong demand from hard-disk and flash-drives makers.

Marvell's net income rose to $106.6 million, or 21 cents per share, in the quarter ended February 1 from $50.2 million, or 9 cents per share, a year earlier.

Revenue rose to $931.7 million from $775.3 million.

Marvell's chips are used to write data on hard-disk drives and helps store more data on a smaller surface.

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(Reporting by Lehar Maan and Supantha Mukherjee in Bangalore; Editing by Savio D'Souza)