10/23/2003 - Marvell® (NASDAQ: MRVL), a technology leader in the development of extreme broadband communications and storage solutions, announced that it was ranked the 11th Fastest Growing company in North America, according to the Deloitte Technology Fast 500, which ranks the fastest growing technology companies based on average percentage fiscal year revenue growth over five years (1998–2002).
“To grow during prosperous times is one thing; to achieve such spectacular revenue growth during tough times for the technology sector, is even more impressive and is attribute to the resilience of the companies on the Deloitte Technology Fast 500,” said Ron Hafner, Deloitte partner. “We applaud Marvell for being one of the fastest growing companies in the North America during these challenging times”.
Marvell is one of 86 communications and networking companies to make this year’s Technology Fast 500, and it has reached the second place in fast growing communications networking companies in California and the fifth place in fast growing communications and networking companies in North America.
"We are honored to have been awarded this prestigious award and feel it is a tribute to our customers’ commitment to Marvell for our quality track record, technical innovation and their trust in Marvell”, said Dr. Sehat Sutardja, Marvell’s Co-Chairman, President and Chief Executive Officer. ”We are proud to be recognized for our financial performance which includes 23 consecutive quarters of revenue growth and we look forward to our continued success and growth.”
Overall companies that have been ranked on the 2003 Technology Fast 500 had growth rates ranging from 469 to 296,080 percent over five years, with an average growth rate of 5,493 percent. Marvell’s growth is 46,107%, which is about 8 times faster than the average.
Marvell (NASDAQ: MRVL) is the leading global semiconductor provider of complete broadband communications and storage solutions. The Company’s diverse product portfolio includes switching, transceiver, communications controller, wireless, and storage solutions that power the entire communications infrastructure, including enterprise, metro, home, and storage networking. As used in this release, the terms “Company” and “Marvell” refer to Marvell Technology Group Ltd. and its subsidiaries, including Marvell Semiconductor, Inc. (MSI), Marvell Asia Pte Ltd. (MAPL), Marvell Japan K.K., Marvell Taiwan Ltd., Marvell International Ltd. (MIL), Marvell U.K. Limited, Marvell Semiconductor Israel Ltd. (MSIL), RADLAN Computer Communications Ltd., and SysKonnect GmbH. MSI is headquartered in Sunnyvale, Calif., and designs, develops and markets products on behalf of MIL and MAPL. MSI may be contacted at (408) 222-2500 or at www.marvell.com.
Marvell® and the Marvell logo are trademarks of Marvell.
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