Marvell Receives Outstanding Financial Performance Award From the Fabless Semiconductor Association
Annual Award Celebration Recognizes the Most Outstanding Fabless Semiconductor Companies for 2000-2001
Sunnyvale, California
(December 10, 2001) —
Marvell® (NASDAQ: MRVL), a technology leader in the development of extreme broadband communications solutions, today announced that the Company was recognized by the Fabless Semiconductor Association (FSA) with an Award for Outstanding Financial Performance during 2000-2001. Winners were announced at the FSA annual celebration on December 6th at the Santa Clara Convention Center.
"Marvell is honored to receive this prestigious award recognizing our solid financial performance," stated Dr. Sehat Sutardja, Marvell's President and CEO. "This has been quite an exciting year for Marvell from both a financial and corporate perspective. We have achieved twelve consecutive quarters of profitability on a pro forma basis, we are experiencing rapid growth in our employee base and we have continued to make significant technology developments and contributions to the semiconductor industry with our innovative product offerings. We would like to extend our appreciation to our customers, the fabless semiconductor industry, TSMC, and our employees who have all played a critical role in Marvell's success."
The most successful fabless semiconductor companies during the past year were acknowledged with awards ranging from the most respected public and private fabless companies to the top ten start-ups for the year. In addition, Michael L. Hackworth, Chairman of Cirrus Logic received the Dr. Morris Chang Exemplary Leadership award for his valuable contributions to the fabless industry.
The 2001 event was sponsored by a variety of premier companies within the semiconductor community including: Advantest; Broadcom; Cahners Electronics Group; Chartered Semiconductor Manufacturing; Deutsche Banc Alex. Brown; Dongbu; Ernst & Young; eSilicon; Lehman Brothers; Morgan Stanley; NVIDIA; PricewaterhouseCoopers; QUALCOMM; Robertson Stephens; Salomon Smith Barney; Simplex Solutions; Thomas Weisel Partners; TSMC and UMC.
For more information on the awards dinner, please visit www.fsa.org/dinner.
About the Fabless Semiconductor Association
In 1994, industry leaders incorporated FSA (www.fsa.org) to achieve a more optimal balance between wafer demand and capacity. Its more than 300 corporate members represent fabless companies, integrated device manufacturers, foundry providers, packaging/assembly houses, electronic design automation companies, investment bankers, intellectual property providers, and other companies.
The organization encourages the relationship between fabless companies and suppliers; facilitates business partnerships; creates awareness of the fabless business model; disseminates relevant data; and fosters standards and policies.
The FSA's vision is that by 2010 half of all integrated circuit revenue will come from fabless operations.
About Marvell
Marvell, a technology leader in the development of extreme broadband system-level IC solutions for Internet connectivity and infrastructure, comprises Marvell Technology Group Ltd. (MTGL) and its subsidiaries, including Marvell Semiconductor, Inc. (MSI), Marvell Asia Pte Ltd. (MAPL), Marvell Japan K.K. (MJKK), Marvell International Ltd. and Galileo Technology Ltd. (GTL). On behalf of MIL, MSI designs and develops integrated circuits utilizing proprietary Communications Mixed-Signal Processing (CMSP) and digital signal processing technologies for communications signal processing markets. MAPL is headquartered in Singapore and is responsible for production, distribution and design services. GTL develops high-performance communications Internetworking and Switching products for the broadband communications market. As used in this release, the terms "Company" and "Marvell" refer to the entire group of companies. The Company applies its technology to the extreme broadband communications market where its products are used in network access equipment to provide the interface between communications systems and data transmission media. MSI is headquartered at 645 Almanor Ave., Sunnyvale, Calif., 94085; phone: (408) 222-2500, fax: (408) 328-0120. Marvell's common stock is traded on the NASDAQ under the symbol MRVL. More information on Marvell is available on the Internet at www.marvell.com.
Safe Harbor Statement of Marvell under the Private Securities Litigation Reform Act of 1995:
This release may contain forward-looking statements based on our current expectations, estimates and projections about our products, our industry, our markets, management's beliefs, and certain assumptions made by us. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "should," and variations of these words or similar expressions, are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, market results may differ materially and adversely from those expressed in any forward-looking statements in this release.
Important risks, uncertainties and assumptions that may cause such a difference for Marvell include, but are not limited to, the timing, cost and successful completion of technology and product development through volume production; the rate at which our present and future customers and end-users adopt this product; the timing and results of customer-industry qualification and certification of our products; and, the timing, pricing, rescheduling, or cancellation of significant customer orders for our storage and data communications products.
For other factors that could cause Marvell's results to vary from expectations, please see the sections titled "Additional Factors That May Affect Future Results" in Marvell's annual report on Form 10-K for the year ended January 27, 2001 and in Marvell's quarterly report on Form 10-Q for the quarter ended July 27, 2001.
We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Marvell® and Marvell logo are registered trademarks of Marvell.
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