Mellanox Tech beats by $0.15, beats on revs; guides Q1 revs above consensus
Reports Q4 (Dec) earnings of $0.59 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 33.7% year/year to $141.1 mln vs the $135.2 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $140-145 mln vs. $135.12 mln Capital IQ Consensus Estimate.
Non-GAAP gross margins were 72.3% vs 69.0% a year ago, non-GAAP operating margin was 20.6%.
"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."
"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 [Q1]."