Mellanox Technologies' Profit, Revenue Climb

By Mary de Wet

Mellanox Technologies Ltd. (MLNX) said its earnings rose 29% in the first quarter as the company prepares to be bought by NVIDIA Corp. (NVDA).

The maker of technologies that connect computers in data centers reported a net profit of $48.6 million, or 87 cents per share, up from $37.8 million, or 71 cents a share, in the same quarter a year ago. Analysts had expected earnings of 81 cents a share.

Revenue was $305.2 million, up 22% from a year ago and above analysts' expectations of $300 million. The company had previously said it expected revenue of $295 million to $305 million.

Mellanox didn't give any forward guidance because NVIDIA is in the process of buying the company for $125 per share in cash, a deal that was announced on March 11. Mellanox shares ended Tuesday at $119.32 on Nasdaq.

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

April 16, 2019 17:08 ET (21:08 GMT)

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