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8-K - FORM 8-K - MARVELL TECHNOLOGY GROUP LTD | d253214d8k.htm |
Exhibit 99.1
For further information, contact: | ||||
John Spencer Ahn | Sue Kim | |||
Investor Relations | Media Relations | |||
408-222-7544 | 408-222-1942 | |||
johnahn@marvell.com | suekim@marvell.com |
Marvell Technology Group Ltd. Declares Quarterly Dividend Payment
Santa Clara, Calif. (September 14, 2016) 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: Marvells expectations regarding its third quarter of fiscal 2017 financial outlook; and Marvells 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 Committees investigation; adverse impacts of litigation or regulatory activities; Marvells ability to hire a Chief Accounting Officer and Controller in a timely manner; Marvells ability to compete in products and prices in an intensely competitive industry; Marvells 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; Marvells reliance on a few customers for a significant portion of its revenue;
Marvells 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 Marvells products are incorporated; uncertainty in the worldwide economic conditions; risks associated with manufacturing and selling a majority of Marvells products and Marvells customers products outside of the United States; and other risks detailed in Marvells SEC filings from time to time. For other factors that could cause Marvells results to vary from expectations, please see the risk factors identified in Marvells 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 Marvells 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, Marvells diverse product portfolio aligns complete platform designs with industry-leading performance, security, reliability and efficiency. At the core of the worlds 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.