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Mellanox Technologies, Ltd. Announces Fourth Quarter And Fiscal Year 2013 Financial Results

Stocks in this article: MLNX

Non-GAAP net income in 2013 was $40.9 million, or $0.90 per diluted share, compared to $155.7 million or $3.60 per diluted share in 2012. 2013 non-GAAP net income excludes $45.1 million of share-based compensation expense, $13.9 million of amortization expense of acquired intangible assets and $4.7 million of acquisition related charges. 2012 non-GAAP net income excludes $35.0 million of share-based compensation expense and amortization expense of acquired intangible assets of $9.3 million.

Total cash and investments at December 31, 2013 were $330.2 million compared to $426.3 million at December 31, 2012. The company generated $30.7 million in cash from operating activities in the fourth quarter of 2013, and $52.0 million for fiscal year 2013.

“Our fourth quarter and fiscal year 2013 results were solid, and we made progress on many of the goals that we outlined for you when we started the year. We believe that approximately $50 million of revenue that was shipped in 2012 was actually deployed in 2013. We acquired two companies in 2013 and believe that these technologies will be important building blocks for our future solutions,” said Eyal Waldman, president and CEO of Mellanox Technologies. “Throughout the year, we worked with many new and existing partners on programs for our InfiniBand and Ethernet interconnect technologies, and in particular, we saw increased adoption of our Ethernet products. We believe that the trends that we see in the market today will result in multiple opportunities for Mellanox in the future.”

Recent Mellanox Press Release Highlights

  • Jan. 27, 2014 - Mellanox Releases World’s First 40 Gigabit Ethernet NIC Based on Open Compute Project (OCP) Designs
  • Jan. 8, 2014 - Mellanox Interconnect Solutions Now Available Through SYNNEX Corporation’s GSA Schedule
  • Jan 6, 2014 - Zenovia Digital Exchange Selects Mellanox FDR InfiniBand to Improve Digital Ad Transaction Quality and Speed
  • Dec. 16, 2013 - Mellanox Collaborates with Dell to Deliver 10/40GbE Solution for Mainstream Servers and Networking Solutions
  • Dec. 10, 2013 - The University of Cambridge Chooses Mellanox FDR InfiniBand to Accelerate UK’s Fastest Academic Cluster and Further Space Research
  • Nov. 20, 2013 - Mellanox FDR InfiniBand Demonstrates 3X Annual Growth for Petascale-Capable Systems on the TOP500
  • Nov. 18, 2013 - Mellanox Connect-IB FDR InfiniBand Adapters with NVIDIA GPUDirect RDMA Technology Provides Superior GPU-based Cluster Performance
  • Nov. 18, 2013 - Mellanox Connect-IB FDR InfiniBand Adapters Accelerate Purdue University’s Supercomputer to Petascale-Class Performance
  • Nov. 11, 2013 - Mellanox Proposes Contribution of 10 Gigabit Ethernet Switch Specification to the Open Compute Project to Enable Cost and Energy-Efficient, Scalable Data Centers
  • Oct. 30, 2013 - Mellanox Delivers InfiniBand and Ethernet OpenStack Interconnect Cloud Solution with Broad Ecosystem Support

Conference Calls

Mellanox will broadcast its fourth quarter and fiscal year 2013 financial results conference call today at 2 p.m. Pacific Time to discuss the company’s financial results. To listen to the call, dial +1-785-424-1825 approximately 10 minutes prior to the start time.

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