Israeli big data connectivity company Mellanox Technologies Ltd. (Nasdaq:MLNX) today announced financial results for the third quarter of 2015. Revenue was $171.4 million, up 42% from 120.7 million in the corresponding quarter of 2014, and up 5% from $163.1 million in the preceding quarter. GAAP net profit was $20.6 million, up from $19.4 million, in the preceding quarter of 2015, and $428,000 in the corresponding quarter. Non-GAAP net profit for the third quarter was $20.6 million, up from $19.4 million in the preceding quarter and $18 million in the corresponding quarter.
In its fourth quarter guidance, Mellanox sees $171-176 million revenue and CEO and president Eyal Waldman sees 2015 revenue being 41% higher than last year. He said, “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% year-over year, and gross margins to be above 72.5%. We also expect annual operating income to improve substantially from the prior year, to approximately 21% of revenue, which is a significant step towards our long-term target profitability."
He added, "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% of InfiniBand revenues. The EZchip acquisition will bring us strategic customers and advanced technologies that will fuel further growth and diversification.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 22, 2015
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