Marvell Technology Group Ltd. (NASDAQ:MRVL) reported its results for the third quarter. Net income for Marvell Technology Group Ltd. fell to $195.1 million (32 cents per share) vs. $255.7 million (38 cents per share) a year earlier. This is a decline of 23.7% from the year earlier quarter. Revenue fell 0.9% to $950.4 million from the year earlier quarter. MRVL reported adjusted net income of 40 cents per share. By that measure, the company beat the mean estimate of 35 cents per share. Analysts were expecting revenue of $942.8 million.
“We are pleased with our third quarter results as we demonstrated solid growth in the quarter driven by our Mobile and Wireless end market, which grew over 20% sequentially. Our TD mobile phone platforms have been extremely well received by customers,” said Dr.Sehat Sutardja, Marvell’s Chairman and Chief Executive Officer.
Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), PLX Technology, Inc. (NASDAQ:PLXT), Standard Microsystems Corp. (NASDAQ:SMSC), PMC-Sierra, Inc. (NASDAQ:PMCS), LSI Corporation (NYSE:LSI), STMicroelectronics N.V. (NYSE:STM), and NVIDIA Corporation (NASDAQ:NVDA).
Intuit Inc.’s (NASDAQ:INTU) first quarter loss narrowed, beating estimates. Loss narrowed to $64 million (loss of 21 cents per diluted share) from $70 million (loss of 22 cents per share) in the same quarter a year earlier. Revenue rose 11.7% to $594 million from the year earlier quarter. INTU reported an adjusted net loss of 10 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 20 cents per share. It beat the average revenue estimate of $580.7 million.
“We’re off to another strong start in fiscal 2012, growing revenue double-digits. Growth was led by our Small Business Group, which has now posted double-digit growth for seven consecutive quarters,” said Brad Smith, president and chief executive officer. “Across the board our first-quarter results are in line with our expectations, so we are reiterating our guidance for fiscal 2012.”
Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), H&R Block, Inc. (NYSE:HRB), Fiserv, Inc. (NASDAQ:FISV), NetSuite Inc. (NYSE:N), salesforce.com, inc. (NYSE:CRM), Nuance Communications Inc. (NASDAQ:NUAN), Fidelity National Information Services (NYSE:FIS), Paychex, Inc. (NASDAQ:PAYX), Automatic Data Processing (NASDAQ:ADP), and Oracle Corporation (NASDAQ:ORCL).
Mentor Graphics Corporation (NASDAQ:MENT) reported net income above Wall Street’s expectations for the third quarter. Net income for Mentor Graphics Corporation rose to $24.1 million (22 cents per share) vs. $15.3 million (14 cents per share) in the same quarter a year earlier. This marks a rise of 57.8% from the year earlier quarter. Revenue rose 4.8% to $250.5 million from the year earlier quarter. MENT beat the mean analyst estimate of 12 cents per share. It beat the average revenue estimate of $244.9 million.
“Bookings were again a record, up over 20% from the previous third quarter record, and for the second consecutive year our book-to-bill through the third quarter is positive,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “This quarter saw the beginning of the strength we predicted in our Design to Silicon category for the second half, with bookings in the third quarter up year-on-year by over 55%, and by about 15% year to date. Looking forward, we expect the technical challenges of advanced nodes to drive significant opportunity for us.”
Competitors to Watch: Synopsys, Inc. (NASDAQ:SNPS), Cadence Design Systems, Inc. (NASDAQ:CDNS), Magma Design Automation, Inc. (NASDAQ:LAVA), ANSYS, Inc. (NASDAQ:ANSS), PDF Solutions, Inc. (NASDAQ:PDFS), Autodesk, Inc. (NASDAQ:ADSK), National Instruments Corp (NASDAQ:NATI), Parametric Technology (NASDAQ:PMTC), Tessera Technologies, Inc. (NASDAQ:TSRA), and Intl. Business Machines Corp. (NYSE:IBM).