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Marvell Technology Beats Estimates by a Penny

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Marvell Technology

(MRVL) - Get Marvell Technology, Inc. Report

, an integrated circuits designer, reported third-quarter earnings that beat Wall Street's estimates, as the company's data storage business continued to grow and revenue came in slightly above internal expectations.

Income before noncash charges for the amortization of stock compensation totaled $3.4 million, or 4 cents a diluted share, beating analysts' estimates by a penny, according to a

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In the year-ago period, the company reported income before noncash items of $5.5 million, or 7 cents a share.

Sales rose 54% to $36.2 million from $23.5 million in the year-ago quarter.