Dallas, Texas 07/23/2013 (Financialstrend) – Mellanox Technologies (NASDAQ:MLNX), is scheduled to announce its Q2 earnings on July 24, 2013. Mellanox is a manufacturer of high performance conductors for transfer of data from servers, storage systems and other embedded systems. Its products include switch systems, adapter cards, integrated circuits for the applications used in financial services, data base, high-performance computing etc.
Mellanox also recently, on July 1, 2013 completed the acquisition of IPtronics A/S, a Denmark based company for a cash amount of 47.5 million USD. IPtronics specializes in production of optical component interconnection in digital communications. Mellanox wants to use this optical interconnectivity to give it a competitive edge as a leader in providing end-to-end solutions for interconnection between storage and server. The location of IPtronics will serve as an additional advantage for Mellanox, as it will be its first research and development center in Europe which will also add on to the thought of expanding the customer base in Europe.
The company had also come into news in June relating to probable projects the company had gained from Microsoft and Google, the revenue from which could be anywhere around $150-200 million. This rumor had also boosted the share price to $46.04. It is also said that Mellanox will earn more than $100 million from Microsoft, which plans to expand its low data center for around $700 million. Company has been doing projects for Microsoft since 2012. The earnings will be reflected in the quarter four results. Mellanox has prior to this, also bagged large projects from Google. These earnings will boost the stock of the company which is currently facing hard times in the capital market.
On July 22, 2013, the stock ranged between $48.50 and $54.59, closing at $50.8. The company has 52 week low of $41.75, and a high of $120.05.