LONDON, UK / ACCESSWIRE / January 24, 2018 /Active-Investors.com has just released a free earnings report on Mellanox Technologies, Ltd (NASDAQ: MLNX) ("Mellanox"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MLNX. Mellanox reported its fourth quarter and fiscal 2017 operating and financial results on January 18, 2018. The semiconductor Company's revenue grew 7.2% on a y-o-y basis, and it provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Mellanox Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For its fourth quarter ended December 31, 2017, Mellanox's total revenues were $237.58 million, up approximately 7.2% from $221.68 million in Q4 2016. The Company's revenue numbers topped analysts' estimates of $235 million.
Mellanox's full-year 2017 revenues were $863.9 million, up 0.7% from $857.5 million in 2016.
For Q4 2017, Mellanox's non-GAAP gross margins were 68.8%, down 186 basis points from Q3 2017. The Company's reported quarter non-GAAP operating expenses increased by $4.5 million sequentially to $125.4 million and represented 52.8% of revenues in Q4 2017 compared to $121 million, or 53.6% of revenues, in Q3 2017.
Mellanox's non-GAAP research and development (R&D) expenses in Q4 2017 were $83.3 million compared to $79.8 million in Q3 2017, representing a sequential drop of 4.3%. The Company's non-GAAP sales and marketing expenses were $32.5 million in the reported quarter compared to $31.2 million in the prior year's same quarter, representing sequential growth of 4%.
For Q4 2017, Mellanox's non-GAAP general and administrative (G&A) expenses were $9.7 million compared to $9.9 million in Q3 2017, representing a sequential drop of 2.3%. The Company's reported quarter non-GAAP operating income was $38 million and represented 16% of revenues compared to operating income of $38.5 million, or 17.1% of revenues, in the previous quarter.
Mellanox reported GAAP net loss of $2.59 million, or negative $0.05 per share for Q4 2017, compared to net income of $9.00 million, or $0.18 per share, in Q4 2016. The Company's non-GAAP net income was $0.82 per diluted share for the reported quarter, unchanged on a y-o-y basis, and came in ahead of Wall Street's estimates of $0.68 per share.
For the full year 2017, Mellanox posted GAAP net loss of $19.43 million, or $0.39 per diluted share, compared to net income of $18.52 million, or $0.37 per diluted share, in FY16. The Company's non-GAAP net income was $116.6 million with $2.28 per diluted share in FY17 compared to $169.5 million, or $3.43 per diluted share, in FY16.
During Q4 2017, Mellanox's InfiniBand revenues totaled $102 million, up 1.9% sequentially. The Company's revenues from its InfiniBand-based products represented 43% of revenues in the reported quarter, down from 44% of revenues in the previous quarter. Mellanox's EDR 100-gigabit-per-second and CML products were up 11.2% sequentially and up 2.8% on a y-o-y basis and represented 49% of InfiniBand revenues for Q4 2017.
For Q4 2017, Mellanox's Ethernet revenues were $122.8 million, up 11% sequentially and up 73% on a y-o-y basis and represented 52% of the reported quarter's revenues.
Mellanox's cash provided by operating activities during Q4 2017 was $67 million compared to $53 million in Q3 2017. The Company's cash and investments totaled $273.8 million at December 31, 2017, compared to $346.2 million on September 30, 2017.
For the first-quarter 2018, Mellanox is forecasting non-GAAP revenues of $222 million to $232 million. The Company is expecting non-GAAP gross margin in the range of 68.5% to 69.5% and non-GAAP operating expenses between $120 million to $122 million.
Mellanox is estimating Q1 FY18 share compensation expense to be between $16.3 million and $16.8 million. In the upcoming quarter, the Company expects to recognize remaining restructuring charges related to discontinuation of 1,550 nanometer silicon photonics activities, an amount of $9 million to $12 million.
For the full fiscal 2018, Mellanox is projecting revenues of $970 million to $990 million, non-GAAP gross margins of 68% to 69%, and non-GAAP operating margins to be in the range of 18% to 19%.
Stock Performance Snapshot
January 23, 2018 - At Tuesday's closing bell, Mellanox's stock marginally dropped 0.82%, ending the trading session at $66.35.
Volume traded for the day: 956.84 thousand shares, which was above the 3-month average volume of 760.58 thousand shares.
Stock performance in the last month – up 3.03%; previous three-month period – up 52.00%; past twelve-month period – up 51.14%; and year-to-date – up 2.55%
After yesterday's close, Mellanox's market cap was at $3.35 billion.
The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry. This sector was up 0.6% at the end of the session.
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