Mellanox Tech beats by $0.13, beats on revs; guides Q2 revs above consensus; raises FY18 revs above consensus (78.35)
- Reports Q1 (Mar) earnings of $0.98 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $0.85; revenues rose 33.0% year/year to $251 mln vs the $244.93 mln Capital IQ Consensus. Non-GAAP gross margins of 69.0 percent in the first quarter, compared to 68.5-69.5% guidance and 71.7 percent in the first quarter of 2017.
- Raised Q1 rev to $240-250 mln from $222-232 mln on Feb 21.
- Co issues upside guidance for Q2, sees Q2 revs of $255-265 mln vs. $249.57 mln Capital IQ Consensus Estimate; adj. GM 68.5-69.5%.
- Co issues upside guidance for FY18, raises FY18 revs to $1.03-1.05 bln from $970-990 mln vs. $1.02 bln Capital IQ Consensus Estimate; reaffirms adj. GM 68-69%