Mellanox Technologies Ltd. (NASDAQ:MLNX) announced income from continuing operation for the first quarter of $ 11.98 million or $ 0.71 per share. The company generated net revenue of $ 251.00 million for the same period. While earnings per share surged 238 percent from the year-ago quarter, revenue advanced 33 percent.
On an adjusted basis, revealed non-gaap income from continue operations of 98 cents a share for the first quarter. This topped analysts estimate by $ 0.16 a share while net revenue exceeded street analysts expectation by $ 8 million.
Street analysts are looking for income of $ 0.82 per share on net revenue of $ 243.39 million for the first quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.
Eyal Waldman, President and CEO, commented, Our record first quarter financial performance is the result of the successful execution of our growth strategy and a testament to years of carefully planned R&D investments in 25 gigabit per second and above Ethernet technology, which is fast becoming the industry standard in markets around the world.
The company expects revenues for the second quarter of 255 million – $265 million, while for the full year, revenues are expected between $1030 million and $1050 million.