Mellanox Technologies posted quarterly earnings numbers that beat last year’s and analysts numbers. The Israeli semiconductor connectivity company posted a profit of 80 cents a share, 25 cents higher than expected and over double last year’s earnings. Revenue was $133.5 million, shooting the $128 million projection out of the water. EPS increased by 267% and sales grew 111%. Gross profit margins increased to 70.5%, higher than 68.9% at the same time last year.
MNLX remains optimistic about their guidance with Q3 sales estimates in the range of $150-155 million. Their growth is mostly based in Web 2.0, cloud, database and financial services sectors. It is nice to see that the European crisis in not negatively affecting every industry.
David Cornes holds a degree in economics from the University of Montana.