Mellanox Technologies (MLNX) Tops Q1 EPS by 5c

Mellanox Technologies (NASDAQ: MLNX) reported Q1 EPS of $0.81, $0.05 better than the analyst estimate of $0.76. Revenue for the quarter came in at $196.8 million versus the consensus estimate of $191.65 million.

GUIDANCE:

Mellanox Technologies sees Q2 2016 revenue of $210-215 million, versus the consensus of $214.62 million.

“We are pleased to report the fourth consecutive quarter of record revenue. Our profitability grew 37.2 percent year-over-year. During the quarter we closed the acquisition of EZchip Semiconductor Ltd. We see great promise in the combination of EZchip’s intelligent processors, and Mellanox’s leading interconnect technology. We believe the combined company can deliver compelling value to current and future customers,” said Eyal Waldman, president and CEO of Mellanox Technologies. “We recorded strong growth in our Ethernet business, supported by adoption of our 40 Gigabit Ethernet adapters. We are seeing strong interest in the Spectrum product line and expect revenues to accelerate in the coming quarters. Tests demonstrate superior performance, costs, resiliency, and power of Spectrum compared to alternative products. We are pleased to see our InfiniBand business grow year-over-year. We see additional hyperscale entities deployed InfiniBand in their data centers.”

For earnings history and earnings-related data on Mellanox Technologies (MLNX) click here.

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