Mellanox Technologies Reports Q4 EPS of $.21 vs. $.17

Mellanox Technologies, Ltd. MLNX today announced record revenue in its fourth quarter and fiscal year 2010, ended Dec. 31, 2010. In accordance with U.S. generally accepted accounting principles (GAAP), the company reported revenue of $40.7 million, up 7.7 percent from $37.8 million in the third quarter of 2010, and up 14.5 percent from $35.5 million in the fourth quarter of 2009. For the year ended Dec. 31, 2010, revenue was $154.6 million, an increase of 33.3 percent from revenue of $116.0 million reported in 2009. GAAP net loss in the fourth quarter of 2010 was ($0.5) million or ($0.02) per diluted share, compared with net income of $3.5 million or $0.10 per diluted share in the third quarter of 2010 and $4.3 million or $0.12 per diluted share in the fourth quarter of 2009. Fourth quarter 2010 results include a $0.5 million impairment charge associated with an investment in a private company. Non-GAAP net income in the fourth quarter was $7.7 million, or $0.21 per diluted share, compared with $8.1 million or $0.22 per diluted share in the third quarter of 2010, and $9.9 million, or $0.28 per diluted share in the fourth quarter of 2009.