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Mellanox Touts Record Results

Company announces eighth consecutive quarter of revenue growth

SANTA CLARA, Calif. and YOKNEAM, Israel -- Mellanox Technologies, Ltd. (NASDAQ:MLNX) (TASE:MLNX), a leading supplier of semiconductor-based, server and storage interconnect products, today announced record financial results for its second quarter ended June 30, 2008.

Second Quarter Highlights

  • Net revenue increased to a record $28.2 million, up 43% from the same quarter last year
  • Gross margins were 79.8%
  • Net income: $4.6 million GAAP, $9.6 million non-GAAP

  • Net income per diluted share: $0.14 GAAP, $0.28 non-GAAP
  • $10.1 million in cash generated from operations
  • $165 million in total cash and investments at quarter end

Financial Results

In accordance with U.S. generally accepted accounting principles (GAAP), the company reported record revenue of $28.2 million, up from $25.2 million in the first quarter of 2008 and up 43 percent from the $19.8 million reported in the second quarter of 2007.

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