Mellanox Technologies, Ltd. Updates Fourth Quarter 2012 Financial Outlook
Schedules Release of Q4 2012 Financial Results and Conference Call for January
SUNNYVALE, Calif. & YOKNEAM, Israel -- January 2, 2013
Mellanox® Technologies, Ltd. (NASDAQ: MLNX) (TASE: MLNX), a leading supplier
of high-performance, end-to-end interconnect solutions for data center servers
and storage systems, today announced that its fourth quarter revenue is
projected to be in the range of $119 million to $121 million, below the
company’s previous guidance of $145 million to $150 million, bringing 2012
annual revenue to approximately $500 million, up from $259 million in 2011.
The shortfall is primarily the result of a weaker demand environment,
challenging macroeconomic conditions, and a technical issue associated with
FDR 56Gb/s InfiniBand cabling which caused approximately $20 million of FDR
deployments to be delayed. The cabling issue has been resolved and is not
expected to impact revenue in the future.
The company continues to expect its fourth quarter 2012 non-GAAP gross margin
to be in the range of 68.5 to 69.5 percent and a quarter-over-quarter
sequential increase in non-GAAP operating expenses of six to eight percent.
Mellanox is scheduled to present at the 15^th Annual Needham Growth Conference
on January 17, 2013 at 1:30 p.m. Eastern Time. A webcast of the live event as
well as a replay will be available on the company's investor relations website
Mellanox plans to conduct a conference call on Wednesday, January 23, 2013 at
2 p.m. Pacific Time to discuss the company’s fourth quarter 2012 financial
results. To listen to the call, dial +1-785-424-1834 approximately 10 minutes
prior to the start time.
Mellanox also plans to conduct a conference call on Thursday, January 24, 2013
at 9 a.m. Israel Time to discuss the company’s fourth quarter 2012 financial
results in Hebrew. To listen to the call, dial +972-3-9180609 approximately 10
minutes prior to the start of the call.
Both of the Mellanox financial results conference calls will be available via
live webcasts on the investor relations section of the Mellanox website at
http://ir.mellanox.com. Access the webcast 15 minutes prior to the start of
the call to download and install any necessary audio software. Replays of the
webcasts will also be available on the Mellanox website.
Mellanox Technologies is a leading supplier of end-to-end InfiniBand and
Ethernet interconnect solutions and services for servers and storage. Mellanox
interconnect solutions increase data center efficiency by providing the
highest throughput and lowest latency, delivering data faster to applications
and unlocking system performance capability. Mellanox offers a choice of fast
interconnect products: adapters, switches, software and silicon that
accelerate application runtime and maximize business results for a wide range
of markets including high performance computing, enterprise data centers, Web
2.0, cloud, storage and financial services. More information is available at
Safe Harbor Statement under the Private Securities Litigation Reform Act of
All statements included or incorporated by reference in this release, other
than statements or characterizations of historical fact, are forward-looking
statements. These forward-looking statements are based on our current
expectations, estimates and projections about our industry and business,
management's beliefs and certain assumptions made by us, all of which are
subject to change.
Forward-looking statements can often be identified by words such as
"projects," "anticipates," "expects," "intends," "plans," "predicts,"
"believes," "seeks," "estimates," "may," "will," "should," "would," "could,"
"potential," "continue," "ongoing," similar expressions and variations or
negatives of these words. These forward-looking statements are not guarantees
of future results and are subject to risks, uncertainties and assumptions that
could cause our actual results to differ materially and adversely from those
expressed in any forward-looking statement.
The risks and uncertainties that could cause our results to differ materially
from those expressed or implied by such forward-looking statements include the
continued expansion of our product line, customer base and the total available
market of our products, the continued growth in demand for our products, the
continued, increased demand for industry standards-based technology, our
ability to react to trends and challenges in our business and the markets in
which we operate, our ability to anticipate market needs or develop new or
enhanced products to meet those needs, the adoption rate of our products, our
ability to establish and maintain successful relationships with our OEM
partners, our ability to effectively compete in our industry, fluctuations in
demand, sales cycles and prices for our products and services, including
limited visibility into product inventory levels held by our customers, our
success converting design wins to revenue-generating product shipments, the
continued launch and volume ramp of Intel Romley and Sandy Bridge-based server
and storage platforms, and our ability to protect our intellectual property
rights. Furthermore, the majority of our quarterly revenues are derived from
customer orders received and fulfilled in the same quarterly period and we
have limited visibility into actual end-user demand in any given quarter;
consequently, this introduces risk and uncertainty into our revenue and
production forecasts and business planning and could negatively impact our
financial results. In addition, current uncertainty in the global economic
environment poses a risk to the overall economy as businesses may defer
purchases in response to tighter credit conditions, changing overall demand
for our products, and negative financial news. Consequently, our results could
differ materially from our prior results due to these general economic and
market conditions, political events and other risks and uncertainties
described more fully in our documents filed with or furnished to the
Securities and Exchange Commission.
More information about the risks, uncertainties and assumptions that may
impact our business is set forth in our form 10-Q filed with the SEC on
November 2, 2012, and our form 10-K filed with the SEC on February 28, 2012.
All forward-looking statements in this press release are based on information
available to us as of the date hereof, and we assume no obligation to update
these forward-looking statements.
Mellanox, BridgeX, ConnectX, CORE-Direct, InfiniBridge, InfiniHost,
InfiniScale, PhyX, SwitchX, Virtual Protocol Interconnect and Voltaire are
registered trademarks of Mellanox Technologies, Ltd. Connect-IB, FabricIT,
MLNX-OS, ScalableHPC, Unbreakable-Link, UFM and Unified Fabric Manager are
trademarks of Mellanox Technologies, Ltd. All other trademarks are property of
their respective owners.
Mellanox Technologies, Ltd.
Ashley Paula, +1-415-547-7024
USA Investor Contact
Gwyn Lauber, +1-408-916-0012
Israel Investor Contact
Gelbart Kahana Investor Relations
Nava Ladin, +972-3-6074717
Press spacebar to pause and continue. Press esc to stop.