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Primeur weekly 2019-02-04

Special

A number of European countries joining forces to bid for hosting Europe's fastest supercomputer ...

Per Öster sees free cooling as asset in CSC's hosting entity bid preparing for pre-exascale ...

So you want to host a 250 million euro European pre-exascale supercomputer with EuroHPC funding? ...

Focus

2018 - Another year on the Road to Exascale - Part I ...

Quantum computing

IBM and University of Chicago collaborate to advance quantum computing ...

Quantum Xchange named a finalist for 2019 SXSW Interactive Innovation Awards ...

ColdQuanta sponsors research at University of Wisconsin to accelerate neutral atom quantum computer commercialization ...

Focus on Europe

CESGAHACK4 returns in March to accelerate the execution time of scientists' applications ...

EGI appoints Arjen van Rijn new Council Chair ...

EGI Conference 2019 issues call for abstracts ...

Middleware

Dutch reseller Chip ICT joins the Bright Partner Programme ...

Hardware

CoolIT Systems adds experienced Intellectual Property Counsel ...

Mellanox delivers record fourth quarter and annual 2018 Results and exceeded $1 billion in annual revenue in 2018 ...

Asetek delivers all-in-one liquid cooler to support high wattage processors for extreme workstations ...

Oak Ridge National Laboratory adds powerful AI appliances to computing portfolio ...

Los Alamos National Laboratory issues Request for Proposal (RFP) for new supercomputer ...

Applications

Can you imagine predicting crop yields with supercomputers and satellites? ...

Netherlands eScience Center contributes to new insights into the human body clock and health ...

Going deep: Lawrence Livermore lab employees get an introduction to world of machine learning and neural networks ...

Lawrence Livermore National Laboratory team explores electric grid modernization via HPC ...

How to escape a black hole: simulations provide new clues to what's driving powerful plasma jets ...

Berkeley Lab researcher wins machine-learning competition with code that sorts through simulated telescope data ...

Supercomputing helps study two-dimensional materials ...

The Cloud

Clowder awarded $5 million from National Science Foundation ...

WekaIO joins the ranks of prestigious machine learning and Cloud leaders to provide benchmark code for MLPerf ...

Helix Nebula Science Cloud demonstrated final results of pilot phase for hybrid Cloud model ...

Mellanox delivers record fourth quarter and annual 2018 Results and exceeded $1 billion in annual revenue in 2018

30 Jan 2019 Sunnyvale, Yokneam - Mellanox Technologies Ltd., a supplier of high-performance, end-to-end interconnect solutions for data centre servers and storage systems, has issued preliminary financial results for its fourth quarter and fiscal year 2018.

"Mellanox had an outstanding 2018, delivering 26% annual revenue growth and achieving $1.09 billion in revenue for the first time in our history. We leveraged top line growth and strong expense discipline to accelerate profitability. We expect to carry this momentum into 2019 and deliver another year of healthy, double-digit revenue growth to drive operating margins even higher", stated Eyal Waldman, President and CEO of Mellanox Technologies.

"We achieved record quarterly revenue in our Ethernet switch business, capitalizing on design wins for our high-performance, feature-rich solutions, which support continued growth in 2019. We maintained our leadership in 25 gigabit and above Ethernet adapters and continue to benefit from the multi-year transition to higher speeds. Revenue for our 100 gigabit Ethernet adapters in 2018 was approximately 2.5 times that of 2017, an indication that the transition to 100 gigabit technology has begun, which will drive the next leg of growth. We are also gaining traction in a new growth vector for the next generation of intelligent interconnect with our BlueField SmartNICs and Storage Controllers."

"We grew our InfiniBand business 8 percent year-over-year and see strong demand for our leading performance HDR 200 Gigabit per second InfiniBand solutions for high-performance computing, artificial intelligence, Big Data, Cloud, storage, and additional applications. Our HDR InfiniBand solutions have begun to ramp with a healthy backlog for Q1 and beyond. We achieved record Q4 and 2018 revenue with our LinkX cables and transceivers and expect to continue seeing healthy growth of our LinkX product line in 2019. We continue to invest in research and development to maintain our leadership across all product lines to fuel our growth in 2019 and beyond", Mr. Waldman concluded.

Fourth quarter 2018 financial results include the following:

  • Revenue of $290.1 million in the fourth quarter, an increase of 22.1 percent, compared to $237.6 million in the fourth quarter of 2017.
  • GAAP gross margins of 65.4 percent in the fourth quarter, compared to 64.1 percent in the fourth quarter of 2017.
  • Non-GAAP gross margins of 69.0 percent in the fourth quarter, compared to 68.8 percent in the fourth quarter of 2017.
  • GAAP operating income of $44.0 million in the fourth quarter, compared to an operating loss of $6.7 million in the fourth quarter of 2017.
  • Non-GAAP operating income of $78.7 million in the fourth quarter, or 27.1 percent of revenue, compared to $38.0 million, or 16.0 percent of revenue in the fourth quarter of 2017.
  • GAAP net income of $42.8 million in the fourth quarter, compared to a net loss of $2.6 million in the fourth quarter of 2017.
  • Non-GAAP net income of $77.1 million in the fourth quarter, compared to $42.9 million in the fourth quarter of 2017.
  • GAAP net income per diluted share of $0.78 in the fourth quarter, compared to a net loss per diluted share of $0.05 in the fourth quarter of 2017.
  • Non-GAAP net income per diluted share of $1.42 in the fourth quarter, compared to $0.82 in the fourth quarter of 2017.
  • Cash provided by operating activities was $96.4 million during the fourth quarter of 2018, compared to $66.9 million in the fourth quarter of 2017.
  • Cash and investments totaled $438.5 million at December 31, 2018, compared to $273.8 million at December 31, 2017.

Fiscal year 2018 financial highlights include the following:

  • Revenue of $1,088.7 million in 2018, an increase of 26.0 percent, compared to $863.9 million in 2017.
  • GAAP operating expense of $588.1 million in 2018, compared to $580.5 million in 2017.
  • Non-GAAP operating expense of $483.0 million in 2018, a decrease of 1 percent, compared to $489.3

million in 2017.

  • GAAP operating income of $112.1 million in 2018, compared to operating loss of $17.1 million in

2017.

  • Non-GAAP operating income of $270.2 million in 2018, or 24.8 percent of revenue, compared to

$118.7 million, or 13.7 percent of revenue in 2017.

  • 2018 GAAP benefit from taxes on income of $22.0 million, mainly due to the reversal of a valuation

allowance related to deferred tax assets.

  • GAAP net income of $134.3 million in 2018, compared to a net loss of $19.4 million in 2017.
  • Non-GAAP net income of $266.5 million, compared to $116.6 million in 2017.
  • GAAP net income per diluted share of $2.46, compared to a net loss per diluted share of $0.39 in

2017.

  • Non-GAAP net income per diluted share of $5.01, compared to $2.28 in 2017.
  • Cash provided by operating activities during fiscal year 2018 was $264.9 million, compared to $161.3

million during fiscal year 2017.

For the first quarter 2019 outlook, Mellnaox currently projects the following:

  • Quarterly revenue of $295 million to $305 million
  • Non-GAAP gross margins of 68.0% to 69.0%
  • Non-GAAP operating expenses of $123 million to $125 million
  • Non-GAAP diluted share count of 54.5 million to 55.0 million
Source: Mellanox

Back to Table of contents

Primeur weekly 2019-02-04

Special

A number of European countries joining forces to bid for hosting Europe's fastest supercomputer ...

Per Öster sees free cooling as asset in CSC's hosting entity bid preparing for pre-exascale ...

So you want to host a 250 million euro European pre-exascale supercomputer with EuroHPC funding? ...

Focus

2018 - Another year on the Road to Exascale - Part I ...

Quantum computing

IBM and University of Chicago collaborate to advance quantum computing ...

Quantum Xchange named a finalist for 2019 SXSW Interactive Innovation Awards ...

ColdQuanta sponsors research at University of Wisconsin to accelerate neutral atom quantum computer commercialization ...

Focus on Europe

CESGAHACK4 returns in March to accelerate the execution time of scientists' applications ...

EGI appoints Arjen van Rijn new Council Chair ...

EGI Conference 2019 issues call for abstracts ...

Middleware

Dutch reseller Chip ICT joins the Bright Partner Programme ...

Hardware

CoolIT Systems adds experienced Intellectual Property Counsel ...

Mellanox delivers record fourth quarter and annual 2018 Results and exceeded $1 billion in annual revenue in 2018 ...

Asetek delivers all-in-one liquid cooler to support high wattage processors for extreme workstations ...

Oak Ridge National Laboratory adds powerful AI appliances to computing portfolio ...

Los Alamos National Laboratory issues Request for Proposal (RFP) for new supercomputer ...

Applications

Can you imagine predicting crop yields with supercomputers and satellites? ...

Netherlands eScience Center contributes to new insights into the human body clock and health ...

Going deep: Lawrence Livermore lab employees get an introduction to world of machine learning and neural networks ...

Lawrence Livermore National Laboratory team explores electric grid modernization via HPC ...

How to escape a black hole: simulations provide new clues to what's driving powerful plasma jets ...

Berkeley Lab researcher wins machine-learning competition with code that sorts through simulated telescope data ...

Supercomputing helps study two-dimensional materials ...

The Cloud

Clowder awarded $5 million from National Science Foundation ...

WekaIO joins the ranks of prestigious machine learning and Cloud leaders to provide benchmark code for MLPerf ...

Helix Nebula Science Cloud demonstrated final results of pilot phase for hybrid Cloud model ...