Mellanox Reports Fifth Quarter of Record Revenues
In June, the company settled a boardroom battle with activist investor Starboard Value, which acquired a 10.7% stake in the company in November
Nasdaq-listed Israeli chipmaker Mellanox Technologies Ltd. has achieved its fifth consecutive quarter of record results, the company announced Wednesday. Publishing its preliminary third-quarter results for 2018, Mellanox reported revenues of $279.2 million, a 23.7% increase year-over-year, attributing it in part to a 59% year-over-year revenue growth in its Ethernet business.
For daily updates, subscribe to our newsletter by clicking here.Israel-headquartered Mellanox develops and manufactures chips for communication networks in data centers. The company employs around 2,700 people, most of them in Israel. In June, the company settled a boardroom battle with activist investor Starboard Value LP, which acquired a 10.7% stake in the company in November and has promptly launched a campaign against the company’s management, pushing for far-reaching operational and administrative changes.The two companies came to an agreement regarding the board’s composition.