Wednesday, October 21, 2015

Mellanox Reports Growing Revenue in Q3

Mellanox Technologies reported Q3 2015 revenues of $171.4 million, up 5.0 percent, compared to $163.1 million in the second quarter of 2015. GAAP net income was $20.0 million, compared to $19.2 million in the second quarter of 2015.

The company said EDR 100 Gbps InfiniBand revenue grew 147 percent quarter-over-quarter.

“We are excited to achieve consecutive record quarterly revenues. Assuming the midpoint of our fourth quarter 2015 guidance, our annual revenues are expected to grow 41 percent year-over year, and gross margins to be above 72.5 percent. We also expect annual operating income to improve substantially from the prior year, to approximately 21 percent of revenue, which is a significant step towards our long-term target profitability,” said Eyal Waldman, president and CEO of Mellanox Technologies. “Today, Mellanox is a diversified company, serving more products, markets, and customers. We are seeing revenues from our 10, 25, 40, 50 and 100 Gigabit Ethernet solutions and traction with large data center customers for these products. We are happy to see our EDR 100 Gigabit InfiniBand revenues growing at a faster pace than FDR did, to approximately 12 percent of InfiniBand revenues. The EZchip acquisition will bring us strategic customers and advanced technologies that will fuel further growth and diversification.”