Mellanox Technologies (MLNX) Tops Q4 EPS by 14c, Beats on Revenues; Offers 1Q18 Revenue Outlook Below Guidance, FY18 Revenue Mid-Point Outlook Above Consensus

Mellanox Technologies (NASDAQ: MLNX) reported Q4 EPS of $0.82, $0.14 better than the analyst estimate of $0.68. Revenue for the quarter came in at $238 million versus the consensus estimate of $235.47 million.

First Quarter 2018 Outlook

We currently project:

Quarterly revenues of $222 million to $232 million
Non-GAAP gross margins of 68.5 percent to 69.5 percent
Non-GAAP operating expenses of $120 million to $122 million
Share-based compensation expense of $16.3 million to $16.8 million
Non-GAAP diluted share count of 52.4 million to 52.9 million

Full Year 2018 Outlook

We currently project:

Revenues of $970 million to $990 million
Non-GAAP gross margins of 68.0 percent to 69.0 percent
Non-GAAP operating margin of 18.0 percent to 19.0 percent
Non-GAAP operating margin of more than 20.0 percent exiting 2018

GUIDANCE:

Mellanox Technologies sees FY2018 revenue of $970-990 million, versus the consensus of $971 million.

Mellanox Technologies sees Q1 2018 revenue of $222-232 million, versus the consensus of $235 million.

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

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