Marvell Technology Updates Outlook for Second Quarter Fiscal 2010

Revenue Guidance Raised to $600 to $630 Million; Anticipates GAAP Net Income

Santa Clara, CA, June 22, 2009 -- Marvell Technology (NASDAQ: MRVL) currently projects net revenues for the second quarter of fiscal 2010 to increase to a range of $600 million to $630 million, an increase of 15 to 21 percent sequentially from net revenue of $521 million reported for the immediately preceding quarter ended May 2, 2009. The increase in projected revenues is due to broad improvement in demand within multiple end-markets. Marvell currently anticipates generating GAAP net income as a result of improved revenue levels.

The outlook for revenue in the second quarter of fiscal 2010 was previously projected to be in a range of $540 million to $580 million, or an increase of 4 to 11 percent sequentially from the first fiscal quarter of 2010, ended May 2, 2009.

“The improved revenue projection for the current quarter reflects the strength of Marvell’s products. We are optimistic in our near-term outlook based on the improved order rate we have experienced so far in our second quarter, which we believe generally signals some strengthening in our customers’ expectations for their businesses,” said Dr. Sehat Sutardja, Marvell Chairman, President and Chief Executive Officer. “Even with the recent pick-up in demand for our products, we encourage everyone to remain cautious of the demand environment for the next few quarters in light of what the industry has experienced in the past nine months.”

Source: Marvell Technology Group Ltd.