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"Source of disappointment from Mellanox is because the company vue cinema did not include a forecast for the fourth quarter revenues chip Intel Romley. Area has yielded Mellanox third quarter revenues of $ 25 million as a result of the three transactions." According to Eran Jacoby lapel Brokerage company released yesterday after Wall Street trading record vue cinema results for the third quarter of the year, but provided a disappointing revenue forecast for the fourth quarter.
More Calcalist: Tel Aviv: Mellanox diving by 14% after reports circulating Mellanox huge: a 40% jump in net income, disappointing forecast Waldman, "does not mean the fourth quarter forecast for the first quarter of 2013" conference call held yesterday now show that It expects revenue in the range of 150-145 million, compared to analysts' estimates vue cinema of expected revenues of $ 157 million. Jacoby: "The company does not see more than one quarter ahead. Also, Mellanox intends to expand its workforce and there are fears rise up to 8% in operating expenses in the fourth quarter vue cinema with a decrease in gross profit.
According to Jacoby, Mellanox's share declines in late trading on Wall Street came to 30% "embody an aggressive overreaction. Following day volatility near stock Relax, you should pick it up again to enjoy the following correction vue cinema hysteria," he added.
"The company is good business momentum and will continue to grow even during the double-digit growth in 2013," according to Jeremy Rosen, Harel Finance in response to lower revenue forecast for the fourth quarter of Mellanox. Investment house lowered its target price to $ 100 per share and reiterated his "Outperform" on the grounds that the decline in the share price creates an opportunity to increase vue cinema exposure.
"Expectations were higher due to special income of the company and the first quarter after a Mellanox not attached those extras revenue vue cinema forecast," he said in a conversation with "Kalkalist" Rudy Shtiwi Leumi Partners analyst. "If we take the net margin of the company without the support coming quarters is expected to reach a low earnings multiple and represents Mellanox in my opinion should be trading at above $ 100 while the company's stock is now trading at $ 80 per share, reflecting," he added.
"The core activity of the company continues to grow as it should. Market is expected to continue extras who just dropped in the fourth quarter forecast. Assuming that the quarter will be in line with expectations it will be the first time in several quarters vue cinema that represents the company's ongoing operations," added Shtiwi. He said the first quarter of 2013 Eyal Waldman says the company will return to present a quarterly results, vue cinema which means continued growth.
In a conference call after the earnings release said Eyal Waldman, CEO "The first quarter we had revenues of $ 10 million related opportunities romley platform Intel's second quarter was strong demand for our products for $ 30 million and in the third quarter we had a chance to three major customers for $ 25 million, the largest of which Mpoliool, Chinese integrator. fourth quarter, without vue cinema all these, our forecasts suggest a revenue base of $ 150 million. "
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