SAN FRANCISCOLike many of its peer, fabless chip vendor Marvell Technology Group Ltd. is expected less revenue than it originally projected for its current fiscal quarter, which closes Jan. 31.
Marvell (Santa Clara, Calif.) said Thursday (Jan. 22) it is now expecting revenue for the quarter to be between $500 million and $520 million, down 34 to 37 percent from the $791 million it posted in the previous quarter.
The revised revenue outlook is 38 to 41 percent below the $845 million that the company posted for the same period one year earlier.
Marvell has previously said it expected revenue for the quarter to be between $690 million and $730 million.
"There is a great deal of uncertainty surrounding the duration and depth of the current worldwide economic slow-down. This is especially true within the PC and the consumer electronics markets," said Sehat Sutardja, Marvell chairman, Ppresident and CEO, in a statement.
"While visibility into future demand in these markets remains uncertain, it is clear an inventory correction process is underway in the near term," Sutardja said. "Consequently, we will continue to take actions to re-align our expense profile to the current environment."