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Hot Off Acquisition Announcement, Mellanox Reports Record Revenues for 2019 Q1

Hot Off Acquisition Announcement, Mellanox Reports Record Revenues for 2019 Q1

In March, Nvidia announced an agreement to buy the company for $6.9 billion, valuing it at $125 per share

Lilach Baumer  :  2019-04-17T10:30:46..
Nasdaq-listed Israeli chipmaker Mellanox Technologies Ltd. has achieved record revenues for the first quarter of 2019, the company announced Tuesday. In its preliminary results, Mellanox reported revenues of $305.2 million, a 21.6% increase year-over-year, attributing it to growth in all product lines.

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The company reported GAAP gross margins of 64.6% in the first quarter of 2019, compared to 64.5% in the first quarter of 2018, a GAAP operating income of $44.7 million compared to $12 million, and a GAAP net income of $48.6 million compared to $37.8 million in the first quarter of 2018.

The company's GAAP net income per diluted share was $0.87, compared to $0.71 in the first quarter of 2018. Non-GAAP net income per diluted share was $1.59, beating the analyst average consensus of $1.45.

Israel-headquartered Mellanox develops and manufactures chips for communication networks in data centers. In March, Nvidia Corp. announced an agreement to buy the company for $6.9 billion, valuing it at $125 per share. Due to the pending acquisition, expected to close within a few months, Mellanox has not provided a forward-looking statement in its report.

Eyal Waldman. Photo: Dor Manuel Eyal Waldman. Photo: Dor Manuel Eyal Waldman. Photo: Dor Manuel

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