logo
Share SHARE
FONT-SIZE Plus   Neg

Mellanox Technologies Q1 Profit Tops View

Mellanox Technologies Ltd. (MLNX) Wednesday reported first-quarter net income of $12.4 million or $0.29 per share, compared to a net loss of $1.6 million or $0.05 per share last year.

On an adjusted basis, net income for the quarter improved to $22.0 million or $0.51 per share, compared to $9.2 million or $0.24 per share in the first quarter last year. On average, ten analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenue for the quarter grew 61.2 percent to $88.7 million from $55.1 million in the first quarter last year. Analysts estimated revenues of $81.62 million for the quarter.

Gross margins for the quarter improved to 67.4 percent from 64.7 percent last year.

Chief Executive Eyal Waldman said, "Our strong quarterly revenue growth reflects the increased penetration of our high-performance InfiniBand and Ethernet interconnect solutions in new markets, in addition to our traditional High Performance Computing market, specifically, the Web 2.0, database, storage and cloud markets."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Low-cost airline Allegiant Air announced its order for brand-new aircraft for the first time in its history. The carrier announced on Friday it had reached a deal to purchase 12 current-generation models of Airbus' A320 narrow-body jets. The company termed the deal as "another step towards Allegiant's... Los Angeles City officials have filed criminal charges against Soylent CEO Robert Rhinehart for placing a bright red shipping container on Montecito Heights hillside as part of his "experiment in sustainable living." City Attorney Mike Feuer Friday announced that his office has filed multiple criminal... A new study says that if Hillary Clinton is elected then her proposals will strengthen the U.S. economy and create millions of jobs. According to Moody's Analytics, Hillary Clinton's economic proposal would oversee a "somewhat stronger U.S. economy." The conclusion was reached after assessing her...
comments powered by Disqus
Follow RTT