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Primeur weekly 2018-10-29

Exascale supercomputing

Mind Commerce releases findings from Exascale computing market research ...

China launches third prototype exascale computer ...

Quantum computing

Quantum Technologies Flagship kicks off with first 20 projects ...

Quantum Xchange selects Zayo Group for dark fiber to deploy first quantum network in the United States ...

Shielded quantum bits ...

Quantum network to test unhackable communications ...

Artificial intelligence controls quantum computers ...

Focus on Europe

TETRAMAX launches the largest pan-European technology brokerage network on customized low-energy computing ...

Maestro Consortium addresses the ubiquitous problems of data movement in data-intensive applications and workflows ...

Hardware

Cray and Stradigi AI partner to crack the code on enterprise AI implementation ...

Mellanox ships more than 2.1 million Ethernet adapters in the first three quarters of 2018 ...

Mellanox delivers five consecutive quarters of record results ...

DDN shatters SPEC SFS 2014 benchmark records ...

Lawrence Livermore unveils NNSA's Sierra, world's third fastest supercomputer ...

AI acceleration with NEC's new vector computer ...

Trisymbiotic IP, a small start-up, announces U.S. Patent 10,020,436 which surpasses in facilities efficiency the fastest supercomputers from the U.S. and China ...

Applications

Department of Energy to issue upcoming solicitation for High Performance Computing Initiative ...

Shaheen sets subsurface mapping world record ...

Unprecedented insight into the sun's fusion reactor ...

Dr. David E. Shaw selected to receive 2018 IEEE-CS Seymour Cray Computer Engineering Award ...

HPC-AI Advisory Council and Stanford High Performance Computing Center announce 9th Annual Stanford Conference, February 2019 ...

The Cloud

IBM to acquire Red Hat, completely changing the Cloud landscape and becoming world's first hybrid Cloud provider ...

Altair and Oracle offer faster high-performance computing in the Cloud ...

Oracle Cloud gives easy access to partner solutions ...

NetApp Data Fabric enables businesses to drive competitive advantage with AI ...

EuroFlash

Gauss Centre for Supercomputing supports team deFAUlt at SC18 Student Cluster Competition ...

Mellanox delivers five consecutive quarters of record results

24 Oct 2018 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 third quarter 2018 ended September 30, 2018.

"Mellanox continues to execute and gain momentum in the markets we participate in. We reported another record quarter in Q3, delivering 24% revenue growth and 90% non-GAAP operating income growth year-over-year. This resulted in a non-GAAP operating margin of 26.2%", stated Eyal Waldman, President and CEO of Mellanox Technologies. "Our strong results reflect the differentiated and superior product technologies that Mellanox has to offer for data centre infrastructure."

"The innovations built into our high-speed Ethernet adapters, switches and cables are fueling demand for our Ethernet products. Leading hyperscale, Cloud, enterprise data centre and artificial intelligence customers continue to choose Mellanox to maximize the efficiency and utilization of their compute and storage investments. This has resulted in further market share gains across our high-speed Ethernet products and 59% year-over-year revenue growth in our Ethernet business. During the third quarter we released our HDR 200 Gigabit per second InfiniBand solutions to first customers and announced multiple design wins. HDR InfiniBand will enhance the performance, efficiency and scalability of high-performance computing, artificial intelligence, storage, cloud and other performance-driven applications, and deliver highest return on investment for compute and storage infrastructures", Mr. Waldman concluded.

Third Quarter 2018 highlights include the following:

  • Revenue of $279.2 million in the third quarter, an increase of 23.7 percent, compared to $225.7 million in the third quarter of 2017.
  • GAAP gross margins of 65.8 percent in the third quarter, compared to 65.7 percent in the third quarter of 2017.
  • Non-GAAP gross margins of 69.6 percent in the third quarter, compared to 70.7 percent in the third quarter of 2017.
  • GAAP operating income of $39.5 million in the third quarter, compared to $6.6 million in the third quarter of 2017.
  • Non-GAAP operating income of $73.2 million in the third quarter, or 26.2 percent of revenue, compared to $38.5 million, or 17.1 percent of revenue in the third quarter of 2017.
  • GAAP net income of $37.1 million in the third quarter, compared to $3.4 million in the third quarter of 2017.
  • Non-GAAP net income of $71.4 million in the third quarter, compared to $36.6 million in the third quarter of 2017.
  • GAAP net income per diluted share of $0.68 in the third quarter, compared to $0.07 in the third quarter of 2017.
  • Non-GAAP net income per diluted share of $1.33 in the third quarter, compared to $0.71 in the third quarter of 2017.
  • $66.4 million in cash provided by operating activities in the third quarter, compared to $53.0 million in the third quarter of 2017.
  • Cash and investments totaled $350.2 million at September 30, 2018, compared to $273.8 million at December 31, 2017.

Year-to-date highlights through the third quarter include the following:

  • Revenue of $798.7 million, an increase of 27.5 percent, compared to $626.3 million in the first three quarters of 2017.
  • GAAP operating income of $68.1 million, compared to operating loss of $10.4 million in the first three quarters of 2017.
  • Non-GAAP operating income of $191.6 million, or 24.0 percent of revenue, compared to $80.6 million, or 12.9 percent of revenue in the first three quarters of 2017.
  • GAAP benefit from taxes on income of $23.2 million, mainly due to a reversal of valuation allowance on deferred tax assets.
  • GAAP net income of $91.4 million, compared to net loss of $16.8 million in the first three quarters of 2017.
  • Non-GAAP net income of $189.4 million, compared to $73.6 million in the first three quarters of 2017.
  • GAAP net income per diluted share of $1.68, compared to net loss per diluted share of $0.34 in the first three quarters of 2017.
  • Non-GAAP net income per diluted share of $3.57, compared to $1.44 in the first three quarters of 2017.
  • $168.5 million in cash provided by operating activities, compared to $94.4 million in the first three quarters of 2017.

Mellanox currently projects:

  • Quarterly revenue of $280 million to $290 million
  • Non-GAAP gross margins of 68.5% to 69.5%
  • Non-GAAP operating expenses of $122 million to $124 million
  • Share-based compensation expense of $22.0 million to $22.5 million
  • Non-GAAP diluted share count of 54.5 million to 55.0 million
Source: Mellanox

Back to Table of contents

Primeur weekly 2018-10-29

Exascale supercomputing

Mind Commerce releases findings from Exascale computing market research ...

China launches third prototype exascale computer ...

Quantum computing

Quantum Technologies Flagship kicks off with first 20 projects ...

Quantum Xchange selects Zayo Group for dark fiber to deploy first quantum network in the United States ...

Shielded quantum bits ...

Quantum network to test unhackable communications ...

Artificial intelligence controls quantum computers ...

Focus on Europe

TETRAMAX launches the largest pan-European technology brokerage network on customized low-energy computing ...

Maestro Consortium addresses the ubiquitous problems of data movement in data-intensive applications and workflows ...

Hardware

Cray and Stradigi AI partner to crack the code on enterprise AI implementation ...

Mellanox ships more than 2.1 million Ethernet adapters in the first three quarters of 2018 ...

Mellanox delivers five consecutive quarters of record results ...

DDN shatters SPEC SFS 2014 benchmark records ...

Lawrence Livermore unveils NNSA's Sierra, world's third fastest supercomputer ...

AI acceleration with NEC's new vector computer ...

Trisymbiotic IP, a small start-up, announces U.S. Patent 10,020,436 which surpasses in facilities efficiency the fastest supercomputers from the U.S. and China ...

Applications

Department of Energy to issue upcoming solicitation for High Performance Computing Initiative ...

Shaheen sets subsurface mapping world record ...

Unprecedented insight into the sun's fusion reactor ...

Dr. David E. Shaw selected to receive 2018 IEEE-CS Seymour Cray Computer Engineering Award ...

HPC-AI Advisory Council and Stanford High Performance Computing Center announce 9th Annual Stanford Conference, February 2019 ...

The Cloud

IBM to acquire Red Hat, completely changing the Cloud landscape and becoming world's first hybrid Cloud provider ...

Altair and Oracle offer faster high-performance computing in the Cloud ...

Oracle Cloud gives easy access to partner solutions ...

NetApp Data Fabric enables businesses to drive competitive advantage with AI ...

EuroFlash

Gauss Centre for Supercomputing supports team deFAUlt at SC18 Student Cluster Competition ...