Mellanox Q2 Revenues Up 11.2%

On July 23, Mellanox Technologies  announced its financial results. Among the highlights were an 11.2% increase in revenues compared to the previous quarter. HPC Wire reported the following highlights:

  • Revenue of $163.1 million increased 11.2 percent, compared to $146.7 million in the first quarter of 2015.
  • GAAP gross margin was 71.1 percent, compared to 72 percent in the first quarter of 2015.
  • Non-GAAP gross margins were 72.7 percent, compared to 73.4 percent in the first quarter of 2015.
  • GAAP operating income was $19.4 million, compared to $15.2 million, in the first quarter of 2015.
  • Non-GAAP operating income was $36.2 million, or 22.2 percent of revenue, compared to $30.2 million, or 20.6 percent of revenue in the first quarter of 2015.
  • GAAP net income was $19.2 million, compared to $10.5 million in the first quarter of 2015.
  • Non-GAAP net income was $36.1 million, compared to $28.6 million in the first quarter of 2015.
  • GAAP net income per diluted share of $0.40 increased 81.8 percent, compared to $0.22 in the first quarter of 2015.
  • Non-GAAP net income per diluted share of $0.75 increased 25 percent, compared to $0.60 in the first quarter of 2015.
  • $41.3 million in cash was provided by operating activities, compared to $45.8 million in the first quarter of 2015.
  • Cash and investments totaled $467.2 million at June 30, 2015, compared to $432.7 million at March 31, 2015.