Mellanox: 2Q Earnings Snapshot
YOKNEAM, Israel (AP) _ Mellanox Technologies Ltd. (MLNX) on Wednesday reported second-quarter net income of $38.4 million.
On a per-share basis, the Yokneam, Israel-based company said it had profit of 68 cents. Earnings, adjusted for stock option expense and amortization costs, were $1.52 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The semiconductor company posted revenue of $310.3 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $307.2 million.
Mellanox shares have increased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $114.20, an increase of 39% in the last 12 months.