Big data infiniband provider Mellanox Technologies Ltd. (Nasdaq:MLNX) sees revenue growth continuing into 2015. The company presented guidance of $140-145 million revenue for the first quarter of 2015, similar to the final quarter of 2014, and over 40% above revenue of $98.7 million in the corresponding quarter of 2014.
Mellanox reported revenue of $141.1 million for the fourth quarter of 2014, beating analysts' expectations, up 16.9% from $120.7 million in the third quarter of 2014, and up 33.7% from $105.6 million in the corresponding quarter of 2013. Revenue was $463.6 million in 2014, up 18.8% from $390.4 million in 2013.
GAAP net loss in the fourth quarter of 2014 was $4.8 million ($0.10 per share), compared with GAAP net profit of $0.6 million ($0.01 per share) in the preceding quarter of 2014 and net loss of $7.3 million (0.17 per share) in the corresponding quarter.
Non-GAAP net profit in the fourth quarter of 2014 was $28 million, ($0.59 per share), up from $18.2 million ($0.39 per share) in the third quarter of 2014, and $9.7 million (0.21 per share) in the fourth quarter of 2013.
GAAP net loss in 2014 was $24.0 million ($0.54 per share), compared with $23.3 million GAAP net loss ($0.54 per share) in 2013. Non-GAAP net profit in 2014 was $58.2 million ($1.25 per share) compared with $40.5 million ($0.89 per share in 2013).
Total cash and investments at December 31, 2014 were $389.0 million compared to $330.2 million at December 31, 2013. The company generated $45.0 million in cash from operating activities in the fourth quarter of 2014, and $80.1 million for fiscal year 2014.
Mellanox president and CEO Eyal Waldman said, “We are pleased with the results of the quarter. They were achieved by the adoption of 40 Gigabit Ethernet by some of our leading customers, the growth in high-performance computing deployments with our increased market share and additional penetration into Web 2.0, storage and cloud markets.
He added, “The need for faster interconnects continues to grow as data increases exponentially. We are very excited to see our 100 Gigabit per second InfiniBand interconnect solution go to market and expect to be utilized by multiple applications starting in the first quarter of 2015. In addition, we are also excited to see our 25, 50 and 100 Gigabit Ethernet NICs and cables up and running, and expect to ship these products this quarter as well. As the only provider of full end-to-end standard InfiniBand and Ethernet interconnect solutions and the first company with a full end-to-end EDR 100 Gigabit solution, we believe we are the only vendor who can help our customers handle the demands that this data growth creates.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2015
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