Mellanox Technologies (MLNX) Warns for Q4

January 2, 2013 4:08 PM EST
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Mellanox Technologies, Ltd. (NASDAQ: MLNX) lowers outlook.

The company announced that its fourth quarter revenue is projected to be in the range of $119 million to $121 million, below the company's previous guidance of $145 million to $150 million, and the consensus of $148.26 million.

The shortfall is primarily the result of a weaker demand environment, challenging macroeconomic conditions, and a technical issue associated with FDR 56Gb/s InfiniBand cabling which caused approximately $20 million of FDR deployments to be delayed. The cabling issue has been resolved and is not expected to impact revenue in the future.

The company continues to expect its fourth quarter 2012 non-GAAP gross margin to be in the range of 68.5 to 69.5 percent and a quarter-over-quarter sequential increase in non-GAAP operating expenses of six to eight percent.

Note- Shares are halted

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