Marvell Technology, Inc. | |||||||||||
Reconciliations from Combined Non-GAAP to Marvell Stand-alone Non-GAAP (Unaudited) | |||||||||||
(In millions, except per share amounts) | |||||||||||
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| Three Months Ended May 1, 2021 | ||||||||||
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| Combined Non-GAAP* |
| Less: Non-GAAP Results Attributable to Inphi Acquisition |
| Marvell Stand-alone Non-GAAP* | ||||||
Net revenue | $ | 832,279 |
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| $ | 21,783 |
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| $ | 810,496 |
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Gross profit | $ | 535,479 |
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| $ | 14,166 |
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| $ | 521,313 |
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Total operating expenses | $ | 306,265 |
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| $ | 9,485 |
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| $ | 296,780 |
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Interest and other income (loss), net | $ | (16,795) |
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| $ | (29,764) |
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| $ | 12,969 |
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Net income | $ | 201,799 |
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| $ | 862 |
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| $ | 200,937 |
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Diluted net income per share | $ | 0.29 |
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| $ | — |
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| $ | 0.29 |
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Diluted weighted-average shares | 707,488 |
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| 18,465 |
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| 689,023 |
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*Combined Non-GAAP net revenue is equal to GAAP net revenue. See "Reconciliations from GAAP to Non-GAAP (Unaudited)" for a reconciliation of other Combined Non-GAAP results to GAAP results for the period. |
Marvell Technology, Inc. | |
Outlook for the Second Quarter of Fiscal Year 2022 | |
Reconciliations from GAAP to Non-GAAP (Unaudited) | |
(In millions, except per share amounts) | |
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| Outlook for Three Months Ended July 31, 2021 |
GAAP net revenue | $1,065 +/- 3% |
Special items: | — |
Non-GAAP net revenue | $1,065 +/- 3% |
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GAAP gross margin | 34.8% - 37.5% |
Special items: |
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Share-based compensation | 0.9% |
Amortization of acquired intangible assets | 16.0% |
Other costs of goods sold | 10.9% |
Non-GAAP gross margin | ~64% |
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Total GAAP operating expenses | $633 - $643 |
Special items: |
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| Share-based compensation | 111 |
| Amortization of acquired intangible assets | 109 |
| Restructuring related charges | 30 |
| Other operating expenses | 15 |
| Total non-GAAP operating expenses | $370 - $375 |
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| GAAP diluted net loss per share | $(0.37) +/- $0.04 |
| Special items: |
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| Share-based compensation | 0.14 |
| Amortization of acquired intangible assets | 0.48 |
| Restructuring related charges | 0.04 |
| Other operating expenses | 0.02 |
| Non-GAAP diluted net income per share | $0.31 +/- $0.03 |
