Mellanox posts record Q4 revenues of $237.6M, up 7% yoy

Mellanox Technologies reported revenues of $237.6 million for the fourth quarter and $863.9 million in fiscal year 2017.

GAAP operating loss was $(6.7) million, or (2.8) percent of revenue, in the fourth quarter, and was $(17.1) million, or (2.0) percent of revenue, in fiscal year 2017.Non-GAAP operating income was $38.0 million, or 16.0 percent of revenue, in the fourth quarter, and $118.7 million, or 13.7 percent of revenue, in fiscal year 2017.

GAAP gross margins were 64.1 percent in the fourth quarter, and 65.2 percent in fiscal year 2017.
Non-GAAP gross margins were 68.8 percent in the fourth quarter, and 70.4 percent in fiscal year 2017.

“We are pleased to achieve record quarterly and full year revenues,” said Eyal Waldman, President and CEO of Mellanox Technologies. “2017 represented a year of investment and product transitions for Mellanox. Fourth quarter Ethernet revenues increased 11 percent sequentially, due to expanding customer adoption of our 25 gigabit per second and above Ethernet products across all geographies. We are encouraged by the acceleration of our 25 gigabit per second and above Ethernet switch business, which grew 41 percent sequentially, with broad based growth across OEM, hyperscale, tier-2, cloud, financial services and channel customers. During the fourth quarter, InfiniBand revenues grew 2 percent sequentially, driven by growth from our high-performance computing and artificial intelligence customers.