Infiniban developer Mellanox Technologies Ltd. (Nasdaq:MLNX) today reported record quarterly revenue for the second quarter of 2015, beating the analysts' estimates. The company sees continued growth in the third quarter.
Revenue was $163.1 million up 11.2% from $146.7 million in the first quarter of 2015, and up from $102.6 million in the corresponding quarter of 2014.
GAAP net profit was $19.2 million, compared with $10.5 million in the first quarter of 2015 and a net loss of $9 million in the corresponding quarter. Non-GAAP net profit was $36.1 million, compared with $28.6 million in the first quarter of 2015, and $6.8 million in the corresponding quarter.
Mellanox CEO and president Eyal Waldman said, "Our InfiniBand solutions continue to take market share on the TOP500 list, and we now connect 51.4% of the systems. The growth of data requires customers to adopt faster technologies in their data centers, and they are eagerly waiting to move to the next generation of high speed interconnects. Faster interconnects are needed in multiple data-intensive markets and applications such as database, Big Data, financials, machine learning, Web 2.0, cloud, high-performance computing, health care, insurance, transportation, homeland security, media and entertainment and many more. Mellanox is the first company to provide such end-to-end solutions to the market. We expect 25 Gigabit Ethernet to be the new 10, 50 to be the new 40, and 100 Gigabit Ethernet to do the heavy-lifting for data intensive markets.”
In the third quarter, Mellanox projects quarterly revenue of $165 million to $170 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 23, 2015
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