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Mellanox beats Street 3Q forecasts(Associated Press Via Acquire Media NewsEdge) YOKNEAM, Israel (AP) _ Mellanox Technologies Ltd. (MLNX) on Wednesday reported profit of $428,000 in its third quarter. On a per-share basis, the Yokneam, Israel-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense and pretax expenses, were 38 cents per share. The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share. The semiconductor company posted revenue of $120.7 million in the period, which also topped Street forecasts. Analysts expected $116.6 million, according to Zacks. For the current quarter ending in December, Mellanox said it expects revenue in the range of $133 million to $137 million. Analysts surveyed by Zacks had expected revenue of $131.9 million. Mellanox shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $45.78, a climb of 17 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. MLNX stock research report from Zacks: http://www.zacks.com/ap/MLNX Keywords:Mellanox,Earnings Report |