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4-Traders Homepage  >  Equities  >  Nasdaq  >  Mellanox Technologies, Ltd.    MLNX   IL0011017329

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Mellanox Technologies, Ltd. : Mellanox Cuts 4th-Quarter Revenue Outlook on Weakened Demand

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01/02/2013 | 10:43pm CEST
   By Ben Fox Rubin 
 

Mellanox Technologies Ltd. (MLNX, MLNX.TV) sharply reduced its fourth-quarter revenue projections, as the data-storage company cited weakened demand, among other issues.

The company now expects quarterly revenue of $119 million to $121 million, below its previous guidance of $145 million to $150 million. It now expects annual revenue of $500 million, below current estimates of $527 million from analysts polled by Thomson Reuters.

Mellanox cited softer demand, challenging macroeconomic conditions and technical issues associated with FDR 56Gb/s InfiniBand cabling that caused approximately $20 million of FDR deployments to be delayed. The company added that the cabling issue has been resolved and isn't expected to impact revenue in the future.

The company, which also backed its adjusted gross margin guidance, plans to discuss its fourth-quarter results on Jan. 23.

Mellanox provides interconnect products for data centers--essentially pipes that connect servers and other hardware to each other--using the high-speed InfiniBand technology standard. Its products have been popular in supercomputers that allow users to perform tasks such as weapons research, but they are now gaining traction with organizations seeking advanced technology in their own data centers.

Mellanox, whose sales were projected to quintuple from 2007 to 2012, was expected to continue growing at a steady clip. The introduction of a new server processor by Intel Corp. (INTC), dubbed Romley, has been spurring more data-center spending and benefiting Mellanox, while increased adoption of cloud computing was raising demand for the company's InfiniBand interconnect products.

Shares closed Wednesday at $61.19 and were halted after hours. The stock is down 41% over the past three months.

Write to Ben Fox Rubin at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ($)
Sales 2017 869 M
EBIT 2017 123 M
Net income 2017 4,06 M
Finance 2017 291 M
Yield 2017 -
P/E ratio 2017 149,61
P/E ratio 2018 45,71
EV / Sales 2017 2,31x
EV / Sales 2018 1,89x
Capitalization 2 293 M
Chart MELLANOX TECHNOLOGIES, LTD
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Mellanox Technologies, Ltd Technical Analysis Chart | MLNX | IL0011017329 | 4-Traders
Technical analysis trends MELLANOX TECHNOLOGIES, LTD
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 13
Average target price 53,1 $
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
Eyal D. Waldman President, Chief Executive Officer & Director
Irwin B. Federman Non-Executive Chairman
Ronnen Lovinger Vice President-Operations & Corporate Quality
Jacob Shulman Chief Financial Officer
Michael T. Kagan Chief Technology Officer & VP-Architecture
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