March 4, 2020 / 10:18 PM / a month ago

BRIEF-Marvell Technology Group Reports Q4 GAAP Earnings Per Share Of $2.62

March 4 (Reuters) - Marvell Technology Group Ltd:

* REPORTS FOURTH QUARTER AND FISCAL YEAR 2020 FINANCIAL RESULTS

* Q4 NON-GAAP EARNINGS PER SHARE $0.17

* Q4 GAAP EARNINGS PER SHARE $2.62

* Q4 REVENUE $718 MILLION VERSUS REFINITIV IBES ESTIMATE OF $711.6 MILLION

* Q4 EARNINGS PER SHARE ESTIMATE $0.16 — REFINITIV IBES DATA

* SEES Q1 NON-GAAP EARNINGS PER SHARE $0.11 TO $0.17

* SEES Q1 GAAP LOSS PER SHARE $0.12 TO $0.20

* INTERNAL RESTRUCTURING RESULTED IN AN INCOME TAX BENEFIT OF APPROXIMATELY $763 MILLION FOR Q4 OF FISCAL 2020

* SEES Q1 2021 REVENUE TO BE $680 MILLION +/- 5%

* GIVEN ONGOING UNCERTAINTY ASSOCIATED WITH CORONAVIRUS, CO HAS TEMPORARILY WIDENED Q1 GUIDANCE RANGE ON REVENUE.

* SEES Q1 OF FISCAL 2021 GAAP DILUTED LOSS PER SHARE $0.12 TO $0.20 PER SHARE

* SEES Q1 2021 GAAP GROSS MARGIN TO BE ABOUT 47.5%

* Q1 OF FISCAL 2021 NON-GAAP DILUTED INCOME PER SHARE IS EXPECTED TO BE $0.11 TO $0.17 PER SHARE

* MARVELL TECHNOLOGY - GUIDANCE FOR Q1 REFLECTS REDUCTION OF ABOUT 5 % OF REVENUE TO ACCOUNT FOR CORONAVIRUS IMPACTS CO IS AWARE OF SO FAR

* SEES Q1 2021 NON-GAAP GROSS MARGIN IS EXPECTED TO BE ABOUT 63%

* Q1 GUIDANCE TAKES INTO ACCOUNT U.S. GOVERNMENT’S EXPORT RESTRICTION ON CERTAIN CHINESE CUSTOMERS

* Q1 EARNINGS PER SHARE VIEW $0.13, REVENUE VIEW $673.2 MILLION — REFINITIV IBES DATA Source text for Eikon: Further company coverage:

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