Mellanox Technologies, Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenues of $268,462,000 against $211,962,000 a year ago. Income from operations was $16,560,000 against loss of $4,399,000 a year ago. Income before taxes on income was $16,222,000 against loss of $5,568,000 a year ago. Net income was $16,526,000 against loss of $7,991,000 a year ago. Net income per diluted share was $0.30 against loss of $0.16 a year ago. Non-GAAP net income was $66,578,000 against $22,373,000 a year ago. Non-GAAP income from operations was $66,246,000 against $26,457,000 a year ago. Non-GAAP diluted net income per share was $1.25 against $0.44 a year ago. Cash provided by operating activities was $46.7 million compared to $6.4 million in the second quarter of 2017.

For the six months, the company reported total revenues of $519,462,000 against $400,613,000 a year ago. Income from operations was $28,539,000 against loss of $16,965,000 a year ago. Income before taxes on income was $27,668,000 against loss of $19,444,000 a year ago. Net income was $54,369,000 against loss of $20,235,000 a year ago. Net income per diluted share was $1.00 against loss of $0.41 a year ago. Non-GAAP net income was $117,961,000 against $37,031,000 a year ago. Non-GAAP income from operations was $118,368,000 against $42,144,000 a year ago. Non-GAAP diluted net income per share was $2.23 against $0.73 a year ago. Net cash provided by operating activities was $102,120,000 against $41,388,000 a year ago. Purchase of property and equipment was $20,078,000 against $27,120,000 a year ago. Purchase of intangible assets was $6,383,000 against $1,647,000 a year ago.

For the third quarter 2018, the company expects revenue of $270 million to $280 million and Non-GAAP gross margins of 68.5% to 69.5%.

For the full year 2018, the company expects revenue of $1,065 million to $1,085 million, Non-GAAP gross margins of 68.5% to 69.5% and Non-GAAP operating margin of 23.0% to 24.0%. The company expects to grow revenue by about 25% in 2018. And as a result in the company expects non-GAAP operating profit more than doubling to about $0.25 billion for the year.