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Marvell Technology expects Q1 revenue below previous outlook

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Staff writer |
Marvell Technology
Marvell Technology Group   Integrated silicon solutions

Marvell Technology Group updated its outlook for the first quarter of fiscal 2016, ending May 2, 2015. Q1 2016 revenue is expected to be below the company's previous outlook.

The company now expects first quarter of fiscal 2016 revenue to be in the range of $710 million to $740 million, compared to the previous expectation of $810 million to $830 million.

The revised revenue outlook is primarily due to weaker than previously expected PC and storage markets and lower than expected emerging market demand. All other financial outlook expectations have been withdrawn and will be updated on the company's first quarter earnings call on May 21, 2015.

Marvell’s revised revenue outlook does not include the potential impact of future share repurchases, pending litigation matters, business combinations, asset acquisitions or other investments that may be completed after April 24, 2015.

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