Marvell Shares Fall After Revenue Miss

Marvell Technology Group Ltd. said late Thursday it earned $82 million, or 16 cents a share, in the fourth quarter. Excluding certain items, the company reported earnings of 25 cents a share, compared with 29 cents a year ago. Marvell reported sales of $857 million, down 8% from $932 million a year ago. Analysts polled by FactSet had expected the company, which specializes in microprocessor architecture and digital-signal processing, to report earnings of 24 cents on sales of $890 million. Marvell said it expects revenues in the range of $810 million to $830 million in the first quarter. Shares of Marvell fell 4.3% in after-hours trading Thursday.