Mellanox Technologies, Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2015; Revises Earnings Guidance for the First Quarter of 2016
For the year, the company reported total revenues of $658,140,000 compared to $463,649,000 a year ago. Income from operations was $75,106,000 compared to loss from operations of $7,191,000 a year ago. Income before taxes was $74,582,000 compared to loss before taxes of $5,742,000 a year ago. Net income was $92,894,000 or $1.94 per diluted share compared to net loss of $24,009,000 or $0.54 per diluted share a year ago. Non-GAAP net income was $138,471,000 or $2.89 per diluted share compared to $58,222,000 or $1.25 per diluted share a year ago. Non-GAAP income from operations was $139,904,000 compared to $57,809,000 a year ago. Net cash provided by operating activities was $150,488,000 compared to $80,130,000 a year ago. Purchase of property and equipment was $48,601,000 compared to $29,924,000 a year ago. Purchase of intangible finite-lived assets was $210,000.
For the first quarter of 2016, the company revised quarterly revenues of $190 million to $195 million compared to previous guidance of $180 million to $185 million and non-GAAP gross margin is expected to be in the range of 71% to 72%. The company expected an increase in non-GAAP operating expenses of 8% to 10%.