Mellanox sees revenue of $222 to $232 million in the third quarter, below the analysts' forecasts.
Israeli big data connectivity developer Mellanox Technologies Ltd. (Nasdaq:MLNX) has announced its financial results for the second quarter of 2017. Revenue was $212 million down 1.3% from $214.8 million in the second quarter of 2016 but up 12.3% from $189 million in the preceding quarter. GAAP net loss was $8 million, ($0.16 per share) compared with net profit of $4.7 million ($0.09 per share) in the second quarter of 2016. Non-GAAP net profit was $22.4 million ($0.44 per share), almost half of the net profit of $42.7 million ($0.87 per share) in the second quarter of 2016 but up 53% from $14.7 million in the preceding quarter.
Mellanox president and CEO Eyal Waldman said, "Our second quarter InfiniBand revenues achieved double digit sequential growth, driven by deployments of 100 gigabit EDR solutions. Mellanox’s second quarter results demonstrate InfiniBand’s continued leadership in high speed interconnects for customers’ deployments across high-performance computing, artificial intelligence, cloud and database. During the second quarter Ethernet revenues grew 8% sequentially, as adoption of our 25 gigabit Ethernet solutions continued to accelerate. In the second half of 2017, we anticipate multiple growth catalysts for both our Ethernet and InfiniBand solutions."
Mellanox sees revenue of $222 to $232 million in the third quarter, below the analysts' forecasts.
Published by Globes [online], Israel business news - www.globes-online.com - on July 27, 2017
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Eyal Waldman