SANTA CLARA, Calif.,
Sept. 14, 2016 /PRNewswire/
-- Marvell Technology Group Ltd. (NASDAQ: MRVL), a
world leader in storage, cloud infrastructure, Internet of Things
(IoT), connectivity and multimedia semiconductor solutions, today
announced that the Board of Directors has approved a quarterly
dividend payment of $0.06 per share
to all shareholders of record as of September 28, 2016. Marvell intends to pay the
dividend on October 19, 2016.
Forward-Looking Statements under the Private Securities
Litigation Reform Act of 1995
This press release contains
forward-looking statements within the meaning of the federal
securities laws that involve risks and uncertainties, including:
Marvell's expectations regarding its third quarter of fiscal 2017
financial outlook; and Marvell's use of Non-GAAP financial measures
as important supplemental information. Words such as "anticipates,"
"expects," "intends," "plans," "projects," "believes," "seeks,"
"estimates," "can," "may," "will," "would" and similar expressions
identify such forward-looking statements. These statements
are not guarantees of results and should not be considered as an
indication of future activity or future performance. Actual events
or results may differ materially from those described in this press
release due to a number of risks and uncertainties, including, but
not limited to: actions that may be taken by Marvell as a result of
the Audit Committee's investigation; adverse impacts of litigation
or regulatory activities; Marvell's ability to hire a Chief
Accounting Officer and Controller in a timely manner; Marvell's
ability to compete in products and prices in an intensely
competitive industry; Marvell's reliance on the hard disk drive and
mobile and wireless markets, which are highly cyclical and
intensely competitive; costs and liabilities relating to current
and future litigation; Marvell's reliance on a few customers for a
significant portion of its revenue; Marvell's ability to develop
and introduce new and enhanced products in a timely and cost
effective manner and the adoption of those products in the market;
seasonality in sales of consumer devices in which Marvell's
products are incorporated; uncertainty in the worldwide economic
conditions; risks associated with manufacturing and selling a
majority of Marvell's products and Marvell's customers' products
outside of the United States; and
other risks detailed in Marvell's SEC filings from time to time.
For other factors that could cause Marvell's results to vary from
expectations, please see the risk factors identified in Marvell's
Quarterly Report on Form 10-Q for the fiscal quarter ended
July 30, 2016 as filed with the SEC
on September 8, 2016, and other
factors detailed from time to time in Marvell's filings with the
SEC. Marvell undertakes no obligation to revise or update publicly
any forward-looking statements.
About Marvell
Marvell (NASDAQ: MRVL) is a
global leader in providing complete silicon solutions and Kinoma®
software enabling the "Smart Life and Smart Lifestyle." From mobile
communications to storage, Internet of Things (IoT), cloud
infrastructure, digital entertainment and in-home content delivery,
Marvell's diverse product portfolio aligns complete platform
designs with industry-leading performance, security, reliability
and efficiency. At the core of the world's most powerful consumer,
network and enterprise systems, Marvell empowers partners and their
customers to always stand at the forefront of innovation,
performance and mass appeal. By providing people around the world
with mobility and ease of access to services adding value to their
social, private and work lives, Marvell is committed to enhancing
the human experience.
As used in this release, the term "Marvell" refers to Marvell
Technology Group Ltd. and its subsidiaries. For more information,
please visit www.Marvell.com.
Marvell® and the Marvell logo are registered trademarks of
Marvell and/or its affiliates.
For further
information, contact:
|
|
John Spencer
Ahn
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Sue Kim
|
Investor
Relations
|
Media
Relations
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408-222-7544
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408-222-1942
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johnahn@marvell.com
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suekim@marvell.com
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SOURCE Marvell Technology Group Ltd.