SAN FRANCISCO—Chip maker Marvell Technology Group Ltd. said Thursday (May 17) it benefited from supply chain recovery in the wake of last year's devastating floods in Thailand and that it expects the impact of the disaster on its business will be completely negated by July.
Marvell was one of numerous electronics firms to be hurt by the flooding in Thailand, which forced several electronics manufacturing facility closures, including makers of hard disk drives (HDDs) and disk drive components. Marvell's product line includes chips for PC hard disk drives.
"By the end of this quarter, the flood-related impact will be behind us," said Sehat Sutardja, president, chairman and CEO of Marvell in a conference call with analysts following the company's financial report for the first quarter of its fiscal 2013, which closed April 28.
Marvell reported sales and profit for the quarter that beat Wall Street estimates. Marvell's sales target for the current quarter was also better than Wall Street expected.
Severe flooding beginning with Thailand's monsoon season in July killed more than 800 people and resulted in some $50 billion in damages last year. Resulting facility closures created a supply chain bottle neck that hampered sales of PCs and other electronics products.
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