Mellanox Technologies Shares Popped: What You Need to Know
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What: Shares of connectivity specialist Mellanox Technologies (NAS: MLNX) have popped today, gaining as much as 17%, after the company reported fourth-quarter results.
So what: Sales added up to $72.7 million, leading to $0.31 per share in profit. Both numbers look particularly tall when standing next to the consensus estimates of $71.4 million and $0.29 per share in profit.
Now what: CEO Eyal Waldman called it a "record year for Mellanox," driven by its ability to address increasing bandwidth and lower latency needs as well as "significantly" penetrating new markets. It was a record year in numerous ways, including fourth quarter revenue, operating income, net income, and operating cash flow. Full-year revenue jumped 68% to $259.3 million, also reaching uncharted territory for Mellanox.
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