Mellanox: 3Q Earnings Snapshot

YOKNEAM, Israel (AP) _ Mellanox Technologies Ltd. (MLNX) on Wednesday reported third-quarter profit of $37.1 million.

The Yokneam, Israel-based company said it had net income of 68 cents per share. Earnings, adjusted for stock option expense and amortization costs, were $1.33 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The semiconductor company posted revenue of $279.2 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $275.7 million.

For the current quarter ending in December, Mellanox said it expects revenue in the range of $280 million to $290 million. Analysts surveyed by Zacks had expected revenue of $280.7 million.

Mellanox shares have increased 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $65.98, a rise of 46 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLNX at https://www.zacks.com/ap/MLNX