Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Mellanox Technologies Q1 Profit Tops View

RELATED NEWS
Trade MLNX now with 

Mellanox Technologies Ltd. (MLNX: Quote) 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."

Click here to receive FREE breaking news email alerts for Mellanox Technologies Ltd. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The European Central Bank left its key interest rates unchanged at a record low, after reducing them in a surprise move last month, as economic momentum in the euro area remains subdued. The Governing Council, led by President Mario Draghi, held the refinancing rate at a record low 0.05 percent following its policy meeting in Naples, Italy on Thursday. Hector Beltran Leyva, one of Mexico's most-wanted drug lords, was arrested on Wednesday. Mexican special forces captured Hector as he dined at a seafood restaurant in the city of San Miguel de Allende, a popular hub of foreigners and artists in the central state of Guanajuato. Federal criminal investigations chief Tomas Zeron told the media that no shots were fired in the operation, which culminat Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.