Mellanox Technologies, Ltd. announced unaudited consolidated earnings results for third quarter and nine months ended September 30, 2018. For the quarter, the company reported total revenues of $279,211,000 compared to $225,699,000 a year ago. Income from operations was $39,533,000 compared to $6,580,000 a year ago. Income before taxes on income was $40,579,000 compared to $5,520,000 a year ago. Net income was $37,057,000 or $0.68 per diluted share compared to $3,403,000 or $0.07 per basic and diluted share a year ago. Non-GAAP net income was $71,413,000 or $1.33 per diluted share compared to $36,613,000 or $0.71 per diluted share a year ago. Non-GAAP income from operations was $73,216,000 compared to $38,497,000 a year ago.

For the nine months, the company reported total revenues of $798,673,000 compared to $626,312,000 a year ago. Income from operations was $68,072,000 compared to loss of $10,385,000 a year ago. Income before taxes on income was $68,247,000 compared to loss of $13,924,000 a year ago. Net income was $91,426,000 or $1.68 per diluted share compared to loss of $16,832,000 or $0.34 per basic and diluted share a year ago. Non-GAAP net income was $189,374,000 or $3.57 per diluted share compared to $73,645,000 or $1.44 per diluted share a year ago. Non-GAAP income from operations was $191,584,000 compared to $80,641,000 a year ago. Net cash provided by operating activities was $168,489,000 compared to $94,376,000 a year ago. Purchase of property and equipment was $28,992,000 compared to $35,243,000 a year ago. Purchase of intangible assets was $6,512,000 compared to $1,836,000 a year ago.

For the fourth quarter of 2018, the company expects revenue to be in the range of $280 million to $290 million, non-GAAP gross margins to be in the range of 68.5% to 69.5%, non-GAAP operating expenses to be in the range of $122 million to $124 million.