Mellanox Posts Q3 sales of $225.7 million - flat yoy

Mellanox Technologies reported Q3 2017 revenue of $225.7 million, up 0.7 percent compared to $224.2 million in the third quarter of 2016. GAAP gross margins were 65.7 percent, compared to 65.1 percent in the third quarter of 2016. GAAP net income was $3.4 million, compared to $12.0 million in the third quarter of 2016.

“We are pleased to achieve a record revenue quarter and resume our growth. Our third quarter Ethernet revenues achieved double digit sequential growth, driven by increasing deployments of our 25 gigabit per second and above products, which demonstrates our leadership position in these markets,” said Eyal Waldman, President and CEO of Mellanox Technologies. “During the third quarter, InfiniBand revenues declined seven percent sequentially mainly due to a large Department of Energy CORAL deployment in the second quarter. On a year-over-year basis, our InfiniBand high-performance computing and artificial intelligence revenues increased by double digit percentages."