Marvell Technology Group Ltd. Reports Fourth Fiscal Quarter and Fiscal Year 2016 Financial Results

 


Marvell Technology Group Ltd.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)














January 30,


January 31,

Assets

2016 (a)


2015


(Preliminary)



Current assets:





Cash, cash equivalents and short-term investments

$   2,282,749


$  2,529,555


Accounts receivable, net

323,300


420,955


Inventories

210,017


308,162


Prepaid expenses and other current assets

102,560


85,368



Total current assets

2,918,626


3,344,040

Property and equipment, net

299,540


340,639

Long-term investments

11,296


10,226

Goodwill and acquired intangible assets, net

2,047,955


2,060,643

Other non-current assets

164,710


128,839



Total assets

$   5,442,127


$  5,884,387







Liabilities and Shareholders' Equity




Current liabilities:





Accounts payable

$      180,372


$     282,899


Accrued liabilities

253,691


286,357


Carnegie Mellon University accrued litigation settlement

736,000


-


Deferred income

55,722


68,120



Total current liabilities

1,225,785


637,376

Other non-current liabilities

76,219


100,922



Total liabilities

1,302,004


738,298







Shareholders' equity:





Common stock

1,015


1,030


Additional paid-in capital

3,028,921


3,099,548


Accumulated other comprehensive income (loss)

(795)


308


Retained earnings

1,110,982


2,045,203



Total shareholders' equity

4,140,123


5,146,089



Total liabilities and shareholders' equity

$   5,442,127


$  5,884,387









(a) 

The condensed consolidated balance sheet at January 30, 2016 is preliminary and therefore, subject to adjustments in connection with subsequent events arising through the date of the Company's filing of its Annual Report on Form 10-K for the corresponding period. The filing of the Form 10-K will be completed as soon as practicable after the completion of the audit of the Company's fiscal 2016 financial statements by Deloitte & Touche LLP, its newly appointed independent registered public accounting firm.


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