back to article Marvell superheroes and the Fantastic Four (hundred million dollar loss and internal probe)

Shares of chipmaker Marvell plummeted on Friday after the company said it was unable to file its quarterly earnings results on time, but that it expected to post a whopping $382.4m net loss. In a filing with the US Securities and Exchange Commission, Marvell said its earnings report would be late due to an ongoing internal …

  1. Anonymous Coward
    Anonymous Coward

    Marvell indeed.

    The company name would be very apt if they weren't concerned with recognising revenue for the second quarter of its fiscal 2016, what with it being 2015 and all...

    If they can see a whole year into the future and have financial problems, then they must have *really* useless management.

    1. Pookietoo

      Re: Marvell indeed.

      The article states "second quarter of its fiscal 2016, which ended on August 1" and August 1 minus six months is February 1, so its current fiscal year ends February 1 2016.

  2. razorfishsl

    This is what happens when you build silicon for a declining device....

    Should have got into Flash controllers.

    1. Mage

      what happens when you build silicon for a declining device

      Actually maybe two thirds of the loss is due to the patent case loss for "silicon for a declining device" about 50c a chip.

  3. Anonymous Coward
    Anonymous Coward

    Corrupt Execs screwing a company for their own gain?!

    Why I've never seen such a thing

  4. x 7

    sounds like ramping the share price by booking forward sales as current sales.

    Thing to look for is the number and value of post-sale credits raised, or the amount of discounted stock later sold as "thank you" gifts

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