New York, NY -- (SBWIRE) -- 02/25/2013 -- Marvell Technology Group Ltd. (NASDAQ: MRVL) reported financial results for the fourth fiscal quarter and fiscal year 2013, ended February 2, 2013.
"Fiscal year 2013 was a disappointing year for Marvell. Industry hard disk drive unit shipments declined for the year offsetting share gains, the networking end market was relatively flat and we endured a product transition in Mobile. Despite the revenue decline, Marvell remained profitable and generated $626 million in free cash flow while simultaneously continuing investments in several key initiatives," said Dr. Sehat Sutardja, Marvell's Chairman and Chief Executive Officer.
Marvell is a global leader in providing complete silicon solutions enabling the digital connected lifestyle.
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Micron Technology Inc. (NASDAQ: MU) and Elpida Memory, Inc. announced earlier this week that the Chinese Ministry of Commerce has given antitrust clearance for Micron's previously announced proposed acquisition of Elpida.
China's approval was the last remaining antitrust pre-merger clearance required for completion of the transaction. Pre-merger approvals were previously obtained from the United States, Czech Republic, Japan, South Korea, Singapore and Taiwan.
Elpida Memory, Inc. is a leading manufacturer of Dynamic Random Access Memory (DRAM) integrated circuits. The company's design, manufacturing and sales operations are backed by world class technological expertise.
Micron Technology, Inc., is one of the world's leading providers of advanced semiconductor solutions.
Find out where MU could be headed here: http://www.monstertradingalerts.com/market-scan/?symbol=MU
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