Mellanox Technologies Ltd. (MLNX:US), the Israeli maker of technology used to transfer data, reported second-quarter earnings that exceeded analyst estimates as revenue surpassed $100 million for the first time.
The Yokneam Elit, Israel-based company reported adjusted earnings per share of 99 cents, more than the 73.5-cent mean estimate of 11 analysts. The adapter maker, which advanced 6.7 percent today, posted quarterly sales of $133.5 million, a 111 percent increase over the same period last year.
The company’s shares had declined for eight straight days before rising today.
To contact the reporter on this story: Sridhar Natarajan in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Tal Barak Harif at email@example.com